South Korea Crypto Holdings Halve From December Peak as Stock Rally Draws Investors Away

South Korea’s cryptocurrency market has shrunk sharply over the past year, with investor holdings and trading volumes dropping significantly. Stablecoin holdings, however, more than doubled.

Crypto holdings in South Korea fall by half in a year

Stablecoin holdings rise

Data the Bank of Korea submitted to lawmaker Cha Gyu-geun of the Rebuilding Korea Party showed domestic crypto holdings totaled 60.6 trillion won ($43.9 billion) as of the end of February. The figure combines assets held in accounts at the country’s five largest exchanges — Upbit, Bithumb, Korbit, Coinone and Gopax — based on month-end market prices.

Crypto holdings rose from 50.6 trillion won ($36.7 billion) at the end of August 2024 and continued climbing until reaching a peak of 121.8 trillion won ($88.3 billion) at the end of December 2025. They then slumped to less than half that level by the end of February 2026.

Average daily trading value increased from 2.7 trillion won ($2.0 billion) at the end of August 2024 to 17.1 trillion won ($12.4 billion) at the end of December 2024, before falling to about 4.5 trillion won ($3.3 billion) by the end of February 2026.

Stablecoin holdings, by contrast, increased steadily. They rose from 88.5 billion won ($64.1 million) at the end of July 2024 to 872.3 billion won ($632.1 million) at the end of December 2025, and remained relatively high at 607.1 billion won ($440 million) at the end of February 2026.

The drop in domestic crypto holdings and trading value was attributed to strong rallies in South Korean and global stock markets, weakness in the crypto market and an overall decline in valuations.

Stablecoin holdings were supported by stronger demand for dollar-denominated investment assets amid a weaker won and growing interest in stablecoins.

Kim Hyun-kyung, Korea Economic TV reporter, khkkim@wowtv.co.kr