Martial Law Spurs Volatility in South Korea’s Crypto Market
South Korean cryptocurrency markets experienced significant turbulence following President Yoon Suk Yeol’s unexpected martial law declaration, creating a notable divergence between global and local crypto prices.
Bitcoin fell as low as $79,000, and XRP traded at $1.89 on Upbit for over an hour. This saw users crowd the exchanges to file purchase orders and buy these tokens at an unprecedented low price for the bull market.
A Brief Chaos in South Korea’s Crypto Market
The political crisis began when President Yoon declared martial law Tuesday night, prompting military forces to attempt entry into parliament. Yoon justified the move as necessary to combat “pro-North Korean anti-state forces.”
This…
