South Korean Virtual Asset Market Value Drops 33% in First Half

The value of South Korea's virtual asset market plummeted by 33% in the first half of the year, driven largely by falling prices of key cryptocurrencies.

According to data from the Financial Services Commission (FSC), the market capitalization of virtual assets came to 58.9 trillion won as of end-June, sharply down from 87.2 trillion won six months earlier.

The daily average turnover of virtual assets also plummeted to 3.1 trillion won, from 5.4 trillion won over the cited period.

Meanwhile, the total value of Korean won deposits made by traders fell 35% to 5.2 trillion won during the January-June period.