Bitcoin price has soared 50% since the beginning of April, exceeding the $110,000 mark per unit

However, the average daily transaction value of domestic virtual asset exchanges has declined for five consecutive months since December last year.

It was found that domestic virtual asset market transaction was sluggish despite Bitcoin's rapid rise.

On the 26th, Bitcoin price has soared about 50% since the beginning of April, exceeding the $110,000 mark per unit, setting a new all-time high.

However, the average daily transaction value of domestic virtual asset exchanges has declined for five consecutive months since December last year.

According to CoinGecko, the average daily transaction value of Korea's top five virtual asset exchanges (Upbit, Bithumb, Coinone, Cobbit, and Gopax) this month was $3.57886 billion (about 4.8876 trillion won). This is a 70% drop compared to the average of $12.199 billion a day in December last year.

Bitcoin has hit an all-time high, but investor interest remains low.

According to Google Trends, which shows interest based on Google search figures, Koreans' interest in Bitcoin reached 22 levels this week (25-31). This figure is a relative value when the first to seventh days of December last year, when interest was highest, was set at 100, and this week is one-fifth of that time.

A similar trend is occurring not only in domestic but also in global markets. According to Google Trends, the global interest in Bitcoin this week is 32, which is only one-third of what it was when November 10-16 was set as 100 last year.

In response, there are various analyses in the market. First of all, it is analyzed that this rise is an institution-led rise unlike in the past, and the participation of individual investors has not yet begun.

Hunter Horsley, CEO of U.S. asset manager Bitwise, said, "The rise is driven by institutions, advisors, and companies, not individuals," adding, "The low interest of individual investors is because individuals are entering the market through institutional products rather than in-kind purchases, unlike in the past."

Some analysts say that this is because the rise in Bitcoin does not lead to the rise in altcoins, unlike in the past.

Unlike in the past, altcoins have not shown an explosive rise. Bitcoin has risen by up to 50.29% since the 7th of last month, but the market capitalization of the rest of the coins except Bitcoin has risen by only 34.99%.