Market cap of virtual assets in S. Korea crashes 33 pct in H1

SEOUL, Oct. 1 (Yonhap) -- The value of South Korea's virtual asset market sank 33 percent in the first half of the year, largely on falling prices of key cryptocurrencies, data showed Thursday. The market capitalization of the virtual asset market came to 58.9 trillion won (US$43.4 billion) as of end-June, sharply down from 87.2 trillion won six months earlier, according to the data from the Financial Services Commission (FSC). The daily average turnover of virtual assets also plummeted to 3.1 trillion won, from 5.4 trillion won over the cited period. The total value of Korean won deposits made by traders fell 2.9 trillion won, or 35 percent, to 5.2 trillion won during the January-June period. There were 26 virtual asset market operators in South Korea as of end-June, including 17 crypto exchanges, according to the financial regulator. The number of market users gained 0.4 percent to some 11.17 million over the cited period. The data also showed 1,703 types of cryptocurrency, including Bitcoin, Ethereum and Dogecoin, were traded in the South Korean market as of December, down 29 from six months earlier, according to the data. Prices of Bitcoin and other virtual assets are shown on a screen at the Bithumb local cryptocurrency exchange in Seoul in this March 18, 2026, file photo. (Yonhap) sam@yna.co.kr(END)