News 
Coin Information 
About us 
The crypto market rally, which set popular digital currencies such as Bitcoin (BTC) and Ether (ETC), have made these assets popular to investors worldwide. But a new trend has been spotted in South Korea where “crypto moms” have fueled the resurgence of the country’s digital currency market.
Crypto adoption rose sharply in South Korea in recent months where transaction volume rose to 445 trillion won (around $390 billion) was recorded for the months of January and February alone, according to AMBCrypto.com. Surprisingly, a huge chunk of that hike in volume came from middle-aged females, dubbed as “crypto moms” who actively bought Bitcoin during the pandemic and fueled the “second boom” of cryptocurrencies in the country.
Citing data from research firm Wiseapp, local publication Maeil Kyungjae reported that females aged 40 to 49 have been buying Bitcoin in recent weeks, according to Bitcoin.com. The research firm sourced its data from local crypto exchanges Bithumb and Upbit.
Contrary to the rest of the world where younger investors are more active in the crypto market, Bithumb and Upbit’s data revealed that over 30 percent of traders belong to that age range (40 to 49 years old) while 21 percent are over 50 years old. The report called the trend of older investors leading the charge a “second boom,” a trend that was not spotted in previous bull cycles.
For comparison, people in their thirties account for 30.7 percent of South Korea’s crypto users during the previous 2017 Bitcoin rally. On the other hand, people in their twenties account for 24 percent of total users.
Data from the exchanges also revealed that millennials, those born from 1981 to 1996 or those aged from 20 to 29, only account for 19 percent of the users of the platforms. Meanwhile, only 1.5 percent of users are teenagers.
“The reason why the age group leading the virtual asset transaction has changed is the painful experiences of the 20th and 30th generations who suffered a ‘great crash’ at the time,” the media outlet explained its findings. “The 20th and 30th generations, who started investing in cryptocurrency in 2017-2018, suffered massive losses due to strong government regulations such as the real-name virtual asset transaction system.”
Kim Mo, a stocks manager and one of the “crypto moms” surveyed, revealed that Tesla’s announcement of its BTC investment was what pushed her to jump into the market. “I started investing after seeing Tesla’s CEO and others invest in bitcoin,” she said. “It’s a small amount right now, but I’m going to invest more by looking at the price trend.”
Comment 1