Key Findings from the 2024 South Korean Crypto Investor Report
A joint survey by DeSpread and CoinNess analyzed the behavior of 3,108 South Korean cryptocurrency investors, revealing significant trends in market participation and investment preferences during 2024's crypto resurgence.
Demographic Shifts: New Investors Dominate
- 33% of investors entered the market in 2024
Primary catalysts:
- Short-term investors (<6 months): Influenced by political events (e.g., U.S. election outcomes)
- Mid-term investors (6-12 months): Attracted by Bitcoin ETF approvals
Meme Coin Mania Gains Traction
Despite low familiarity with decentralized exchanges (DEXs):
- 55%+ of investors allocated funds to meme coins
Centralized exchanges (CEXs) drove adoption:
- Bithumb listed 16 meme coins (vs. Upbit's 6), including DOGE, TRUMP, and PENGU
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Market Outlook for 2025
- 75% of investors predict Bitcoin will exceed ₩150M (~$102K)
- Sentiment remains bullish despite regulatory warnings
Frequently Asked Questions
Q: Why did meme coins become so popular in South Korea?
A: CEXs aggressively listed meme coins, making them accessible to investors unfamiliar with DEXs. Cultural factors and viral trends also contributed.
Q: What percentage of new investors joined after Bitcoin ETF approvals?
A: Approximately 15-20% of the 33% newcomers cited ETFs as their primary motivation.
Q: How does South Korea's crypto market differ globally?
A: High retail participation and unique altcoin preferences (e.g., meme coins) distinguish it from Western markets focused on institutional products.
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Investment Risks and Responsible Practices
While optimism prevails, investors should:
- Diversify portfolios beyond speculative assets
- Verify exchange security measures
- Monitor regulatory updates from South Korea's FSC
Note: All investment decisions require independent research. This report reflects market trends, not financial advice.