Upbit Lists SIGN as Bitcoin Exchange Supply Hits 7-Year Low; Global Crypto Integration and Regulation Accelerate
South Korea’s crypto landscape is undergoing rapid transformation, as digital asset trading volumes on major exchanges, including Upbit, have recently surpassed traditional stock markets. Upbit’s new listing of SIGN on KRW, BTC, and USDT markets marks ongoing market innovation. A Bank of Korea report highlights that digital asset holdings reached $73.3 billion by 2024, with daily trading peaking at $12 billion, overtaking traditional equities. The number of crypto accounts has also surpassed those in stocks, revealing mainstream adoption rates between 32% and 35% of the population.
On a global scale, significant trends underscore growing institutional adoption. Bitcoin exchange supply has dropped to a seven-year low (2,488,000 BTC), signaling increased long-term holding and growing institutional custody—historically bullish for Bitcoin’s price. Inflows into Bitcoin funds and ETFs continue to rise, driven in part by major events such as Donald Trump’s re-election, which initially caused a sharp market correction but was followed by recovery and renewed confidence.
Notable infrastructure and regulatory developments include Mastercard’s move to integrate stablecoins, Arizona’s bill allowing up to 10% of state funds to be invested in Bitcoin, and the French luxury brand Messika accepting crypto payments worldwide. Other notable advances are 1inch expanding to Solana and Ethereum’s planned Fusaka hard fork (minus the controversial EOF upgrade) set for late 2025.
As speculative activity and high-risk products grow in South Korean and global markets, regulatory authorities are responding. The Bank of Korea, while supportive of innovation, stresses the need for robust oversight, particularly for stablecoins, echoing similar regulatory debates in Europe. For crypto traders, the convergence of local adoption, global institutional accumulation, regulatory scrutiny, and technical upgrades suggests continued market volatility but a robust, maturing trading environment. These changes are likely to support medium- to long-term price stability for BTC and related assets.
Bullish
The convergence of key indicators—Upbit’s new listings, mainstream adoption in South Korea, and a dramatic decline in Bitcoin exchange supply—signals robust market demand and institutional accumulation, both historically bullish for Bitcoin. Rising inflows into Bitcoin funds and ETFs, major payment networks adopting stablecoins, and traditional entities now accepting cryptocurrencies all point to global adoption momentum. Regulatory scrutiny is increasing, particularly around stablecoins, which might introduce volatility and new compliance costs. However, the overall trajectory is one of sector maturation and infrastructure growth. These factors are likely to foster medium- and long-term price stability and potentially upward movement for BTC and other major cryptocurrencies.