South Korean crypto market at turning point as retail exits, institutions enter: Tiger Research

The South Korean cryptocurrency market is at a turning point, with retail investors pulling back as institutional players move in, according to a new report from Tiger Research, an Asia-based Web3 research and consulting firm. In its '2026 South Korea Cryptocurrency Industry Guide,' the firm states that while the country has a world-class base of crypto investors, the market is undergoing a fundamental shift. The report notes that although the number of domestic crypto investors reached a record 11.13 million by the end of 2025, the growth rate has slowed. The average daily trading volume was 5.4 trillion won (about $4 billion), a 15% decrease from the first half of 2025, while exchange operating profits fell 38% over the same period. "Although the number of participants has grown, trading has decreased. Objectively, retail interest is cooling," the report emphasized. However, Tiger Research pointed out that institutional inflows, including those related to won-denominated stablecoins, are rapidly materializing. The report concluded, "The South Korean market remains large and fast-paced, but old approaches will no longer be effective due to these structural changes."