South Korea’s Crypto Scene Shrinks As Traders Flock Offshore: Report

South Korean crypto trading is shifting overseas as domestic exchanges see big drops in fiat deposits and trading activity, according to ￰0￱ user numbers have risen, the money parked in won and the size of local markets have shrunk, signaling that more capital is finding its way to foreign ￰1￱ Flight Accelerating According to Fnnews , KRW deposits held on local exchanges fell by 42% to about ₩6.2 trillion compared with the end of last ￰2￱ average trading volume also slipped to ₩6.4 trillion, down 12% from the prior ￰3￱ crypto market capitalization was reported at roughly ₩95.1 trillion, a decline of 14% over the same period, while the global market cap fell by about 7%.

At the same time, outflows of crypto reached ₩101.6 trillion overall, with ₩78.9 trillion routed to registered foreign operators — that channel rose by 4%. These figures point to large sums moving beyond Korea’s trading ￰4￱ Coins Face Listing Pressure Reports have disclosed that exchanges are tightening which tokens they ￰5￱ number of unique crypto assets listed domestically is 653, up by 55, but many of those assets trade only on a single ￰6￱ are 279 single-listing assets and about 43% of them have market caps of ₩100 million or ￰7￱ level of concentration leaves small tokens exposed to sharp price swings and to delisting risk if liquidity dries up or regulators press for stronger ￰8￱ Growth But Smaller Trades User accounts are up to about 10.77 million, an increase of 11% from the prior ￰9￱ average capital per user appears lower, given the fall in KRW deposits and daily ￰10￱ losses from peak prices have also deepened; the mean maximum drawdown rose to about 72% from 68% ￰11￱ short: more people hold accounts, but less money is staying on local platforms and risk for small holders has ￰12￱ And Banking Frictions Come Into Play Based on reports, stricter rules and tougher bank partnerships are part of the ￰13￱ exchanges struggle to keep real-name bank accounts or to meet new oversight ￰14￱ fiat rails are weak, users turn to overseas venues that offer broader token lists and larger pools of ￰15￱ has created an incentive for both traders and projects to look beyond the domestic ￰16￱ image from Unsplash, chart from TradingView