South Korea Leads East Asia Crypto Economy with $449.1 Billion in Activity

South Korea emerged as the top crypto market in East Asia during a challenging period for the industry. According to Chainalysis, the country recorded $449.1 billion in crypto activity between July 2025 and June 2026, marking a 12.3% increase from the previous period. This growth stood in contrast to the rest of East Asia, which saw a slight decline in crypto activity.

The surge in South Korea was largely driven by retail traders on centralized exchanges. AI-themed tokens became particularly popular, overtaking previously favored assets like XRP. By June 2026, the top AI tokens by trading volume in South Korea were Worldcoin (WLD) with $7.41 billion, SAHARA with $3.2 billion, and VIRTUAL with $2.7 billion. The enthusiasm for AI tokens was significantly higher in South Korea than in neighboring Japan.

East Asia's total crypto economy reached approximately $1.2 trillion during this period, reflecting a minor contraction amid a global crypto bear market. Different countries in the region took varied approaches: Hong Kong saw an 87% year-over-year growth in institutional platforms, Japan experienced a 36% rise in decentralized finance activity, and China witnessed a 43-fold increase in peer-to-peer stablecoin wallets from Q1 2024 to Q2 2026.

Despite the retail trading boom, South Korea's institutional side remains cautious. Chainalysis noted that Korean banks are exploring stablecoins and tokenization but have not yet made substantial investments.