Author: Tony Chung, Blockmedia Researcher

Compiled by: Shenchao TechFlow

Introduction: In May, Blockmedia surveyed 388 active crypto investors in South Korea to answer a frequently debated question — are Korean retail investors moving money from crypto to the stock market? The answer is no. 45.3% did increase their stock positions, 4.6 times the number who reduced them, but 94.9% said they would add back to crypto positions as soon as the market recovers. Money is temporarily parked in stocks, not leaving the market.

About This Survey

This report is based on an online questionnaire conducted by Blockmedia from May 18 to 24, 2026, among its subscribers, yielding 388 valid responses. This group is not a cross-section of the Korean public but a cohort of highly active investors who directly hold and trade digital assets.

The value of the sample lies not in its size but in the profile of this group. They hold coins, trade, move liquidity between different platforms, and have personally navigated fiat on- and off-ramp channels. Therefore, this survey can clarify one thing: how money is currently moving within South Korea's digital asset market.

The report revolves around three questions — where Korean investors are currently allocating their money, which products and themes are capturing their attention, and from which channels they obtain information. The goal is to gain a clearer picture of current capital flows and to see under what conditions money might flow back into crypto when the market recovers.

1. Who is Investing: Those in Their 30s and 40s Account for Nearly 60%; Older Investors Hold Heavier Positions

Investors in their 30s account for 34.5%, the largest group, followed by those in their 40s at 24.0%. Those in their 20s make up 18.6%, and those in their 50s, 15.7%. The youngest and oldest extremes are very small, with minors and below at only 0.3%, and those over 60 at 7.0%.

This indicates that active crypto investors in South Korea are not solely concentrated among the young. Over half of the respondents are in their 30s to 40s, a group that typically has both income and investment experience. The sample skews male by gender, with 77.3% male and 22.7% female.

Figure note: Age and gender distribution of respondents (n = 388). Those in their 30s account for 34.5%, the largest group, and those in their 40s for 24.0%, together totaling 58.5%. Males account for 77.3%, females 22.7%.

Source: Blockmedia

The second pattern is that holdings increase with age. Across the entire sample, 18.3% hold digital assets worth approximately 100 million KRW (about $66,700 USD) or more, while among the over-60 group, this proportion jumps to 51.9%.

Older investors are not just present; they also account for a significant portion of high-value holdings. This does not mean one should focus solely on a single age group, but rather that a more universal pattern has also emerged in the digital asset market: older individuals have accumulated more assets and have more capital to invest.

Figure note: Asset size by age group — the older the investor, the heavier the holdings. Among the over-60 group, 51.9% hold over $66,700, nearly three times the overall sample rate (18.3%).

Source: Blockmedia

2. Holdings Concentrated in the Mid-Range, but Profits and Losses are Severely Polarized

Account sizes are concentrated in the mid-range. The largest single bracket is $6,667 to $33,333, accounting for 23.2%, with other brackets relatively evenly distributed on either side. Small accounts under $1,000 account for only 9.4%, while 18.3% hold over $66,700.

Figure note: Distribution of holding size and 2026 returns. The largest holding bracket is $6,667–$33,333 (23.2%); regarding returns, 14.6% have lost over 50%, with a total of about 44% in a loss position, while only 14.3% have gained over 50%.

Source: Blockmedia

Returns are markedly split. The 10%–50% profit bracket is the largest single group, but approximately 44% of respondents are currently at a loss, with 14.6% having lost more than half their principal. On the other end, only 14.3% have gains exceeding 50%.

Even so, 94.9% said they would add to their digital asset positions as soon as the market recovers. Given the current profit and loss situation, caution is understandable. But most people prefer to wait for a recovery rather than exit completely.

The same attitude is reflected in investment tenure and asset allocation. Investors with over five years of experience are the largest single group, at 30.2%; about 29% have allocated more than half of their total assets to digital assets. This sample more closely resembles a group of seasoned, deeply committed investors, not casual onlookers.

Figure note: Investment tenure and proportion of digital assets in total assets. Those with over five years of experience are the largest group at 30.2%; about 29% have digital assets accounting for more than half of their total assets.

Source: Blockmedia

3. Why Enter the Market: Driven by Price Appreciation, but Positions Anchored in BTC and Stablecoins

The primary reason for entering the digital asset market is the expectation of price increases, cited by 67.1% of respondents, far ahead of other options. But entry motivations are not solely about price. Valuing decentralization, interest in blockchain technology, and seeking additional income each recorded 29.6%, indicating that beyond return expectations, technological interest and practical utility are also drivers.

Figure note: Entry motivations and largest holding coins. The top entry reason, "expectation of price increase," accounts for 67.1%; for holdings, BTC ranks first (36.1%), with second place going to USDT (16.7%) rather than ETH (13.7%).

Source: Blockmedia

On the holdings side, Bitcoin leads at 36.1%. Notably, the second-largest holding is not Ethereum but USDT (16.7%). A stablecoin ranking this high indicates that respondents hold coins not just to bet on price increases; they also use stablecoins to manage volatility, park funds on the sidelines, and meet exchange needs.

4. Stablecoins: The Main Channel for Offshore Trading and USD Exposure

Stablecoins are already a familiar tool for this group of investors. 78.4% currently hold stablecoins, and including those who have held them before, over 91% have held them at least once, with only 8.6% never having touched them.

Figure note: Stablecoin holding status and purchase motivations. 78.4% currently hold; the primary use for buying is "to use on overseas exchanges" (50.1%), followed by hedging against volatility (39.8%) and gaining USD exposure (31.0%).

Source: Blockmedia

Usage clarifies the role of stablecoins further. The most common purpose is to use on overseas exchanges, cited by 50.1% of users. For Korean investors, stablecoins are a critical pathway to accessing offshore liquidity and USD-denominated assets.

Other major uses include parking funds away from volatility (39.8%), gaining USD exposure (31.0%), and payments or remittances (30.7%).

Another 9.4% said they use stablecoins for the Kimchi premium — arbitrage trading based on the price difference between Korean domestic and overseas markets. This shows that in South Korea, stablecoins are used not only for storing value but also in the process of moving money across markets and capturing spreads.

5. Exchange Landscape: Upbit and Bithumb Dominate, but Going Offshore is a Common Move

Trading activity is concentrated on domestic exchanges. 98.1% of respondents use Korean exchanges, while 66.8% also use overseas exchanges. More than half (55.3%) use both domestic and international platforms. In contrast, the usage rate for decentralized exchanges (DEXs) is only 10.8%, and no one uses DEXs exclusively.

Among domestic platforms, Upbit (88.1%) and Bithumb (75.5%) have the highest usage rates, followed by Coinone (31.0%), Korbit (15.9%), and Gopax (15.6%). Among overseas platforms, Binance leads (55.8%), followed by Bybit (27.8%), OKX (27.5%), and Bitget (22.1%).

Figure note: Usage rates of domestic and overseas exchanges (multiple selections allowed). Domestically, Upbit at 88.1% and Bithumb at 75.5% form a duopoly; overseas, Binance dominates at 55.8%.

Source: Blockmedia

This data indicates that Korean investors are not confined to domestic exchanges. While Upbit and Bithumb have high usage rates, over half are also using overseas platforms like Binance. Domestic listings remain important, but overseas exchanges provide another channel for accessing digital assets.

When choosing an exchange, the most important factor is the convenience of deposits and withdrawals (31.8%), followed by trading volume (25.6%). In other words, respondents care most about the ability to smoothly move money in and out and having sufficient liquidity for efficient trading. Factors like security and hacking history (8.1%) and fees (10.8%) carry less weight.

Figure note: The most important factor when choosing an exchange (single choice). Convenience of deposits/withdrawals ranks first at 31.8%, followed by trading volume at 25.6%; security and hacking history is only 8.1%.

Source: Blockmedia

Overall, Korean investors prioritize accessibility and liquidity over cost or brand image. KRW deposits and withdrawals, whether they can access overseas platforms, and whether trading volume is sufficient — these are the most direct factors determining where they trade.

VI. Market Maturity: Familiar with Contracts and Airdrops, but Daily On-Chain Usage Remains Low

Respondents showed considerable experience with advanced strategies. 62.5% have traded contracts, of which 44.7% are currently doing so and 17.8% have done so in the past. Participation in airdrop farming is even broader, with 77.7% having participated — 60.4% are currently farming and 17.3% have farmed before.

This indicates that this group is not just spot holders. Many have engaged with leveraged trading and reward-based activities. The high proportion of airdrop participation also shows that the routine of connecting wallets, completing tasks, and accumulating points is already very familiar to a large segment.

Caption: Contract and airdrop participation. 62.5% have traded contracts, 77.7% have participated in airdrop farming.

Source: Blockmedia

However, this experience has not yet translated into daily use of DEXs or DeFi. DEX usage rate stands at 10.8%, and no one uses on-chain services exclusively. Most trading still goes through centralized exchanges, both domestic and overseas. On-chain activity is more often for specific purposes (such as farming airdrops) rather than part of a daily trading habit.

Another detail: 17.8% of people traded contracts in the past but no longer do, and 17.3% farmed airdrops before but have stopped. This points to a group of users who tried these products and strategies but did not continue.

Overall, trading experience on centralized exchanges is widespread, but sustained on-chain engagement, including DEXs and DeFi, remains limited.

VII. Capital Rotation: Increased Stock Allocation, but They Haven't Left

45.3% of respondents recently increased their stock positions, roughly 4.6 times the number who reduced them (9.8%). However, 35.3% made no changes, indicating this is not a mass exodus from crypto but a partial rebalancing by some investors. The main reasons for adding stocks were the strength of the Korean stock market (53%) and weakness in the crypto market (50%), followed by expectations of higher stock returns (29%) and excessive crypto volatility (22%).

Caption: Changes in stock allocation and reasons for rebalancing. Those increasing positions (45.3%) outnumber those decreasing (9.8%) by 4.6 times, but 35.3% made no changes; primary reasons for increasing were strong Korean stocks (53%) and weak crypto (50%).

Source: Blockmedia

Caption: 94.9% of respondents said they would increase crypto positions when the market recovers. Money flowing into stocks may not have truly left crypto; it might just be temporarily parked in other assets, waiting for conditions to improve.

Source: Blockmedia

But this rotation is hard to interpret as a structural exit. 94.9% said they would increase their digital asset positions as soon as the market recovers. Some money is currently sitting in stocks and could return when conditions improve.

The respondents' broader asset mix also confirms this. About 90% are multi-asset investors, holding more than just digital assets. The most common other holdings are stocks (66.8%), followed by deposits/savings (41.2%), ETFs (28.9%), real estate (19.8%), bonds (7.0%), and commodities (3.1%). Only 10.6% hold digital assets exclusively.

Within stocks, domestic stocks dominate (68%), with sector preferences concentrated in semiconductors (65%) and AI & software (43%). This overlaps with AI being one of the dominant themes in the digital asset space. Investors are not moving away from growth and tech themes; rather, they are applying the same investment logic to both stocks and digital assets.

Caption: Stock sectors held (multiple choices allowed) — the same tech narratives as in digital assets. Semiconductors 65%, AI & software 43% are the top two.

Source: Blockmedia

VIII. 2026 Outlook: Cautious Optimism, Attention Focused on AI and RWA

Regarding the 2026 market outlook, 52.6% are optimistic, 33.2% neutral, and 14.2% pessimistic. Positive responses exceed half, but the roughly one-third neutral proportion cannot be ignored. The overall expectation leans toward recovery, but a cautious mindset persists.

Caption: 2026 market sentiment — optimistic 52.6%, neutral 33.2%, pessimistic 14.2%.

Source: Blockmedia

Attention is concentrated on AI, RWA, and stablecoins. The most watched sectors currently are AI (59%), RWA (45.9%), and stablecoins (42.5%), while interest in meme coins (6.2%) and NFTs is low. The sectors seen as most promising for 2026 are the same set — AI 54.4%, RWA 52.3%, stablecoins 41.8%. Current interest and expectations for 2026 are broadly aligned.

Holding periods also point toward medium-to-long term rather than short-term speculation. 76% say they prefer medium-to-long term holding, 45% hold for over six months, and only 5% trade multiple times a day. This suggests investors are more willing to track themes and assets that can be observed over the long term, rather than chasing short-lived narratives or rapid price swings.

Caption: Digital asset sectors of interest for 2026 (multiple choices allowed). AI 59%, RWA 46%, stablecoins 43% occupy the top three; meme coins only 6%.

Source: Blockmedia

This data indicates that Korean investors' attention is shifting toward sectors with clearer utility and stronger long-term relevance. The strong interest in AI and RWA reflects expectations for practical utility and connections to real-world assets; interest in stablecoins shows that demand for dollar-denominated assets and global liquidity remains high.

It is also worth noting that sectors linked to mainstream finance (RWA, stablecoins) rank high. This suggests investors are looking past short-term volatility toward opportunities that are easier to understand, more sustainable, and can be tied to institutional participation or real-world assets.

IX. Information Channels: Communities and News Lead, Social Media Preferences Diverge by Age

Online communities are the most common source of investment information, mentioned by 52.3% of respondents, followed by news (43.0%) and social media (36.1%). Communities and media reports together form the primary information channels for this group of investors.

Among social media channels, Telegram has the highest usage rate (76.5%), followed by X (50.3%) and YouTube (41.0%). General instant messaging apps like KakaoTalk account for only 9.5%. This indicates that investors rely more on channels suited for real-time information sharing and tracking global markets, rather than everyday chat apps.

Caption: Information sources and digital asset media used (multiple choices allowed). Communities 52.3%, news 43% lead; in media usage, Blockmedia 63.9%, CoinNess 59.8% are top.

Source: Blockmedia

Channel preferences diverge by age. Telegram usage remains stable across all age groups, making it the closest thing to a universal information channel for Korean digital asset investors.

The age divergence is more pronounced for X and YouTube. X usage declines with age, while YouTube usage rises with age, with the two lines crossing around the 50s age group. Among those aged 60 and above, YouTube usage surges to 67%, far higher than X's 33%.

Caption: Social media usage by age group — YouTube overtakes X starting from age 50. Telegram remains stable at 71%–82% across groups; X drops from 56% among those in their 20s to 33% among those 60+, while YouTube rises from 32% to 67%.

Source: Blockmedia

Younger investors rely more on text-based, real-time channels, while older investors prefer video. Telegram serves as the common base, but the relative weight of X and YouTube shifts significantly with age.

X. Referral Behavior: Willing to Recommend, but Hesitant Due to Volatility

These investors seem to draw a line between "investing themselves" and "recommending others to invest." 71.1% have recommended digital asset investment to family or acquaintances at least once, but only 10.3% say they actively recommend. Most only recommend occasionally (27.1%) or rarely (17.5%).

In other words, even active players in the market are cautious when recommending to those around them.

Caption: Have you recommended digital asset investment to family, friends, or colleagues? Only 10.3% actively recommend, while 28.9% explicitly do not recommend.

Source: Blockmedia

The reasons for recommending and not recommending point to the same thing. The most common reason for recommending is the prospect of high returns (36.6%), and the most common reason for not recommending is excessive price volatility (36.6%).

Volatility is a double-edged sword. It creates the return potential that attracts existing investors, but also makes them more hesitant to recommend it to others.

Figure note: Reasons for recommending vs. not recommending — return potential versus volatility concerns. The top reason for recommending is "high return expectations" (36.6%), while the top reason for not recommending is "high price volatility" (36.6%).

Source: Blockmedia

Appendix: Methodology and Disclaimer

The survey was conducted via an online questionnaire with a sample of 388 respondents, targeting active subscribers of Blockmedia (retail investors in digital assets in South Korea). The survey period was May 18–24, 2026, and was executed by Blockmedia.

Respondents are active subscribers of Blockmedia. The results should not be interpreted as reflecting the general public, but rather as observations of a group of highly engaged investors who maintain sustained interest and activity in the South Korean digital asset market. Because these individuals hold and trade digital assets, the sample provides a useful perspective for observing the needs, information consumption, and asset allocation of active South Korean investors. The figures in the report should be understood as responses from active investors, not as averages representing the broader public or retail investors as a whole.

This report is for informational purposes only and does not constitute advice to buy or sell any specific digital asset, security, or financial product. The data is based on self-reported questionnaire responses and may differ from actual market data. The sample is not representative of the general public. All investment decisions and their associated responsibilities rest solely with the investor. Copyright belongs to Blockmedia.

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