Crypto assets slump in Korea; price falls 71% in 6 months.

The market capitalization of crypto assets traded in Korea plunged nearly 60% in six months to 23 trillion won from 55 as of the end of June.
The slowdown in the crypto asset market is attributed to a contraction in the real economy due to global interest rate hikes, inflation, the Ukraine crisis, and a decrease in liquidity, and a drop in trust in crypto assets due to the Luna-Terra crisis.
The Financial Services Commission announced the results of a survey of 35 crypto asset operators in the first half of the year.
As of the first half of this year, the average daily cryptocurrency transaction volume was 5.3 trillion won, down 53% from the second half of last year (11.3 trillion won). As of the first half of this year, the market capitalization of virtual assets was 23 trillion won, down 58% from the second half of last year (55.2 trillion won).
Bitcoin accounted for 44% of the total market capitalization in the global market, but only 16.6% in Korea.
It can be interpreted that domestic investors have a relatively higher risk-seeking tendency than overseas investors. By generation, were in their 30s (31%), 40s (26%), 20s (24%), 50s (15%) and 60s (4%).
Bitcoin's price per unit has been trading at $19,000, down about 71% as of the end of June, after hitting a high of $67,000 in November last year.
The operating profit of crypto asset traders in the first half of the year was 630.1 billion won, down about 1 trillion won from six months ago (1.64 trillion won).
The average transaction fee rate was 0.16%, down 0.01 percentage point from the end of last year, but it was still high compared to the stock market (0.0027%).
An official from the Financial Services Commission said, "We will continue to conduct semi-annual surveys to accumulate data on the domestic crypto asset market."

It seems that the crypto asset market in Korea is in a slump due to various reasons such as global economic conditions and the recent Luna-Terra crisis. However, it is still unclear how long this slump will continue.