South Korea's cryptocurrency trading volume has shrunk to 1.59% of the stock market trading volume.

TechFlow reports, industry data released on Thursday, July 23 shows that the trading volume of major cryptocurrency exchanges in South Korea has shrunk to approximately 1% of the corresponding figures for the local stock market.

Data from cryptocurrency market observation platform CoinGecko shows that from July 1 to 21, the average daily trading volume of South Korea's top five virtual asset exchanges was 597.8 billion won (approximately $406.5 million). This figure is equivalent to only 1.59% of the average daily trading volume of the benchmark KOSPI market during the same period (37.6 trillion won). The ratio of cryptocurrency market trading volume to the KOSPI market dropped from 11.29% in January to about 6% in March and April, and further to about 2% in May.