PANews reported on April 22 that Cryptonews quoted Busan Ilbo as reporting that according to the latest payment settlement report disclosed by the Bank of Korea (BOK), in December 2024, the total market value of cryptocurrencies held in South Korean domestic wallets exceeded 100 trillion won (US$70.5 billion) for the first time, which is the highest monthly total since the Bank of Korea began to release cryptocurrency-related data. Experts seem to agree that Trump's election as US president in November 2024 triggered a wave of cryptocurrency purchases in South Korea. At the end of October last year, a few weeks before the US presidential election, Koreans held "only 58 trillion won (US$41 billion)" in Bitcoin. The 2.2-fold increase in the two months from October to December 2024 was mainly due to President Trump's "crypto-related declaration commitment." The Bank of Korea pointed out that trading volume also soared after the election. In the last few days of 2024, the average daily trading volume reached 17.2 trillion won (US$12.1 billion), a five-fold increase from October's trading volume.