• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Crypto Crisis in South Korea: Bitcoin's Sharp Drop on Upbit

user avatar

by Giorgi Kostiuk

a year ago

Bitcoin's sharp decline on the Upbit exchange in South Korea was triggered by the declaration of martial law, causing investor panic.

Martial Law Impact on Bitcoin

Bitcoin's value on South Korea's Upbit exchange plummeted by 30%, reaching $63,000. This occurred amid the shocking declaration of martial law in the nation, leading to widespread investor panic and significant sell-offs.

Exchange Outages and Market Chaos

Both Upbit and Bithumb faced operational challenges during the turmoil. Upbit users reported delays accessing its app and API services, while Bithumb experienced temporary outages on its platforms.

Global Derivatives Trading Surge

Globally, there was a surge in derivatives trading amid market volatility. Activity in the options market indicated cautious optimism among traders hedging their positions in response to significant price fluctuations.

After martial law was repealed, Bitcoin quickly rebounded to nearly $96,178 on Upbit, helping to reduce the pricing gap between local and global crypto markets.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Market Reactions to CLARITY Act: Bitcoin and XRP Show Strong Momentum

chest

Market reactions to the CLARITY Act show significant price movements for Bitcoin and XRP, with traders optimistic about potential gains.

user avatarMaya Lundqvist

CLARITY Act Advances in Senate Banking Committee

chest

The CLARITY Act has successfully passed a key vote in the Senate Banking Committee, moving closer to becoming law.

user avatarLeo van der Veen

T3 Financial Crime Unit Freezes Over $450 Million in Illicit Digital Assets

chest

A financial crimes unit formed by Tether, Tron, and TRM Labs has frozen over $450 million in illicit digital assets to combat criminal activity in the cryptocurrency sector.

user avatarLi Weicheng

Charles Hoskinson Highlights Monero's Role in Cryptocurrency Privacy

chest

Charles Hoskinson praises Monero for its advanced privacy features, highlighting its significance in the cryptocurrency space.

user avatarAisha Farooq

Market Analysis Indicates Bitcoin's Transitional Phase

chest

Market analysis suggests Bitcoin is in a transitional phase with institutional support, differing from past downturns.

user avatarTenzin Dorje

Nakamoto Reports Significant Revenue Growth Despite Losses

chest

Nakamoto reported a remarkable revenue increase of over 500% in Q1 2026, reaching $27 million, despite posting a net loss of $238 million.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.