A new report shows that more than 30% of South Korea's population owns cryptocurrencies, with investors now holding more than 100 trillion won in assets.

South KoreaSouth Korea's cryptocurrency market is booming rapidly with the number of investors reaching 15.59 million by the end of November, Yonhap News Agency reported. ReportsQuoting data shared by Democratic Party MP Lim Kwang-hyun.

The latest figure shows an increase of 610,000 investors from the previous month, likely due to optimism following Donald Trump's victory in the presidential election.

According to the data, the total value of cryptocurrencies held by South Korean investors reached a record high of 102.6 trillion won (about $78 billion) in November, up from 58 trillion won in July. While the data does not specify which cryptocurrencies are the most popular among investors, the average amount held by each investor rose to 6.58 million won, a significant increase from previous months.

In terms of trading activity, the daily trading volume at South Korea's five largest cryptocurrency exchanges — Upbit, Bithumb, Coinone, Korbit, and GoPax — reached nearly 15 trillion won in November, roughly equivalent to the daily trading volume of the country's stock markets.

However, some warn that the market is growing too quickly. Lawmaker Lim Kwang-hyun asked the government to ensure that the cryptocurrency market remains stable and protect consumers from potential risks. However, it is still unclear what steps the authorities will take in the near future.