A digital asset evaluation platform assessed 91 Korean cryptocurrency projects listed on domestic exchanges, with only one project achieving an excellent grade of A- or higher. The evaluation by Apiwa, using July 13 as the reference date, found that over 73% of the assessed projects received grades of C+ or lower. The platform evaluated projects defined as 'Kimchi coins' — digital assets with Korean issuers, primary service regions in Korea, or developed and operated by domestic entities. IP (Story) was the sole project to achieve the A- grade with a score of 80.4 points, ranking first overall among the 91 projects evaluated. The assessment reflects the current state of Korean cryptocurrency projects in the domestic digital asset market.
IP Project Achieves Top A- Grade Among Korean Crypto Assets
IP (Story) scored 80.4 points and received an A- grade, making it the only project among 91 evaluated Korean cryptocurrency projects to achieve an excellent rating. The evaluation examined projects listed on domestic exchanges, excluding assets with terminated trading support. Seventeen projects received 'good' grades of B+ or higher. This group included NXPC (Nexspace), S (Sonic), KAIA (Kaia), SPACE (Spacecoin), CTC (Creditcoin), MVL (MVL), TAKE (Overtake), WNCG (Wrapped Nine Chronicles Gold), BFC (Bifrost), XPLA (Xpla), DELABS (Delabs Games), MLK (Milk), KONET (Konet), NUMI (Numinetwork), EL (Elysian), MBL (Moviebloc), and ICX (Icon).
Majority of Projects Receive C+ or Lower Grades
Sixty-seven projects out of 91 total, representing 73.6% of evaluated Korean cryptocurrency assets, received grades of C+ or lower. Projects receiving C grades included BORA (Bora), HUNT (Hunt), TOKAMAK (Tokamak Network), HPP (House Party Protocol), META (Metadium), DKA (Decargo), PCI (Paycoin), and AMO (Amocoin). D-grade projects included EGG (Nestree), AZIT (Azit), CRMC (Crema Coin), FANC (Fancie), BAAS (Baas ID), BIOT (Biopassport), OVER (Over Protocol), GXA (Galaxia), EDUM (Edum), and TEMCO (Temco). Six projects received NR (not rated) classifications: LFIT (Elfit), WOORI (Woori), SKLAY (Sclay), CLBK (Cloudbric), FNCY (Fancie), and CLE (Cle Coin). CLE (Cle Coin) recorded the lowest score overall at 12.65 points, followed by FNCY (Fancie) at 16.43 points, CLBK (Cloudbric) at 18.35 points, SKLAY (Sclay) at 19.2 points, WOORI (Woori) at 19.46 points, and LFIT (Elfit) at 19.72 points.
Apiwa Evaluates Projects Using Five Quantitative Criteria
Apiwa conducts quantitative evaluations of digital assets listed on domestic exchanges by comprehensively reflecting liquidity, development activity, market accessibility, security and risk factors, and community indicators. The platform defines 'Kimchi coins' as digital assets where the issuer is Korean, the primary service region is Korea, or the asset is developed and operated by domestic entities. Apiwa stated that the evaluation serves as reference material to provide information to investors rather than to replace investment judgment.
FAQ
What percentage of Korean crypto projects received poor grades in the Apiwa evaluation?
Over 73% of the 91 evaluated Korean cryptocurrency projects received grades of C+ or lower, with 67 projects falling into this category.
Which Korean cryptocurrency project achieved the highest grade in the evaluation?
IP (Story) was the only project to achieve an excellent A- grade, scoring 80.4 points and ranking first overall among all evaluated projects.
