South Korea’s booming bitcoin industry places it above China as the third-largest cryptocurrency user in the world, according to CryptoCoinsNews and Coin Telegraph. According to Bitcoin-specialized media CryptoCoinsNews and Coin Telegraph on September 24, the daily Bitcoin trading volume of Korea reached 15,408 Bitcoin (about 65.1 billion won or US$58 million) on September 21. The country's daily trading volume recently reached 15,408 bitcoins ($58m), representing an overall market share of 5.55%, compared to China’s 4.97%. Yen and US dollar volumes led the market by a significant margin. Bitcoin’s price has surged over the past few months amid speculation that Chinese regulators will crack down on its use for illicit transactions.
South Korea’s booming bitcoin industry places it above China as the third-largest cryptocurrency user in the world, according to CryptoCoinsNews and Coin Telegraph. The country's daily trading volume recently reached 15,408 bitcoins ($58m), representing an overall market share of 5.55%, compared to China’s 4.97%. Yen and US dollar volumes led the market by a significant margin. Bitcoin’s price has surged over the past few months amid speculation that Chinese regulators will crack down on its use for illicit transactions.