South Korean traders are turning to Bitcoin as a hedge against the weakening national currency, the Korean won. On the Upbit exchange, Bitcoin is trading at a widening premium compared to other exchanges. The disparity is growing as the Korean won has fallen to a 15-year low against the US dollar. The Korean won markets only account for a small percentage of Bitcoin trading activity globally, but the recent spike in the Korean won index indicates a rush to buy BTC in the short term. South Korea is a major crypto hub, and the number of domestic crypto investors has exceeded 15 million for the first time. The top 5 centralized exchanges in the country are Upbit, Bithumb, Coinone, Korbit, and GOPAX. South Korea has implemented new regulations under the Virtual Asset User Protection Act, and the country's central bank is now tracking the crypto market more closely. Volumes on South Korean virtual asset exchanges have surpassed the country's traditional stock markets. South Korean traders have been increasing their inflows to centralized exchanges, particularly in the past few weeks amid concerns about political stability and the decline of the stock market. The number of new investors in South Korea has been growing steadily, and total holdings for South Korean investors have risen significantly due to the BTC rally.



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