Bank of Korea: 91.2% of the trading volume in South Korea's cryptocurrency market is contributed by the top 10% of accounts, increasing the risk of market manipulation

According to the latest financial stability report released by the Bank of Korea, the activity level of the South Korean cryptocurrency market remains higher than the global average, at 157% and 112%, respectively. However, as Bitcoin is expected to surpass $100,000 in 2025, the behavior of South Korean retail investors has shifted from actively building positions to concentrating on profit-taking and significantly cashing out.

The report points out that 91.2% of the trading volume in the South Korean cryptocurrency market is contributed by the top 10% of accounts, leading to an increased risk of market manipulation. The Bank of Korea warns that if institutional and ETF access is relaxed, the vulnerability of the South Korean market to global fluctuations will intensify. Currently, related hot money has shifted to the local South Korean stock market and leveraged ETFs in the U.S. stock market.