#bank-of-korea

#bank-of-korea

The value of virtual assets held by domestic investors in South Korea has plummeted by more than $41 billion (60 trillion won) over the last year, as a cooling crypto market prompted a mass migration of capital toward traditional equities. According to Bank of Korea data reportedly submitted May 10 to Rep. Cha Kyu-keun of the Rebuilding Korea Party, the total valuation of domestic virtual assets stood at approximately $41.17 billion as of the end of February. The decline marks a staggering reversal from the market's peak in January 2024, when holdings reached $82.76 billion.