Korean Retail Investors Leave Crypto Market for Domestic Stocks
As cryptocurrency prices have been on a downward trend since last October, South Korean retail investors are reportedly leaving the market en masse, according to Bloomberg.
The outlet explained that after suffering substantial losses in the crypto market, Korean individual investors are turning their attention to domestic and overseas stock markets. At one point, trading volume on cryptocurrency exchanges surpassed that of the KOSPI, but it has now plunged about 65% year-on-year. During the same period, KOSPI trading volume surged 221%. Korean retail investors had focused heavily on highly volatile altcoins, and those who invested in altcoins are experiencing the greatest fatigue.
As they moved funds into domestic AI and robotics-themed stocks, outstanding margin loans at securities firms exceeded 30 trillion won. Policy pledges by President Lee Jae-myung, including a goal of pushing the KOSPI to 5,000, have also contributed to the outflow of funds from the cryptocurrency market. Although retail investors are leaving the crypto market in disappointment, there is a possibility that the market could be reorganized around utility if blockchain technology becomes firmly established in practical financial services in the future.
Disclaimer: This article is for investment reference only and does not assume responsibility for any investment losses incurred based on it. The content should be interpreted for informational purposes only. `
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