Crypto trading volume for South Korea don drop to 2% of KOSPI

Cryptocurrency trading volume for South Korea don drop reach about 2% of KOSPI daily turnover, na sharp reversal from wetin happen last year weh retail investors carry am go. For May 29, KOSPI trades reach 118.267 trillion won, but the five biggest local exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — together record only 2.713 trillion won for 24-hour volume. The drop look like e come from demand side. Money don shift to traditional equities, especially semiconductor and battery-linked stocks, as conditions steady and people dey take less risk. At the same time, tighter regulation dey reduce activity: the Virtual Asset User Protection Act (KYC/AML) wey go start July 2024 don increase compliance costs and reduce anonymity, and the government no dey classify crypto as financial asset, so institutions no fit enter well. Earlier reports also show weaker local demand through persistent negative Bitcoin Korea Premium (BTC dey trade cheaper locally than abroad). Since Upbit and Bithumb control over 90% share, lower crypto trading volume for South Korea fit pressure exchange fee revenue and valuation expectations. Analysts talk say rebound go likely need sustained global bull market, clearer rules for institutional products, and possible catalysts like spot Bitcoin ETFs in South Korea — though make return to past peaks no too likely soon. For traders, South Korea crypto trading volume versus equities now dey important gauge for both sentiment and regulatory impact.