Crypto Surpasses Stocks in South Korean Trading as Investors Seek Risk Exposure
- Following a brief martial law stint by President Yoon, South Koreans increasingly turned to cryptocurrencies over traditional stocks.
- Between November 5 and 28, daily crypto trading volumes averaged US$9.4 billion, surpassing the Kospi’s US$7 billion.
- Political instability may further influence market dynamics, with significant impact potential on heavily traded cryptocurrencies like XRP in South Korea.
The chaos for financial markets following the brief declaration of martial law in South Korea was short-lived, it seems. Not only that, but it appears South Koreans are flocking to crypto.
This follows surprise events on Tuesday when President Yoon Suk Yeol unexpectedly declared martial law but revoked it…
