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After martial law was repealed, Bitcoin quickly rebounded to nearly $96,178 on Upbit, helping to reduce the pricing gap between local and global crypto markets.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

Transforming Web3 AdTech: ChainAware and MelosClaw's Strategic Partnership

chest

The partnership is set to transform the Web3 advertising landscape by leveraging blockchain data for better targeting.

user avatarRajesh Kumar

ChainAware and MelosClaw Enhance Web3 Advertising Execution and Scalability

chest

ChainAware and MelosClaw are enhancing Web3 advertising execution and scalability through real-time data processing capabilities.

user avatarMaria Gutierrez

StakeStone's Ecosystem Developments Provide Context for Price Rally

chest

StakeStone is building a broader ecosystem narrative that includes a neobank model and a new governance structure.

user avatarLuis Flores

ChainAware and MelosClaw Join Forces to Revolutionize AI in Web3

chest

ChainAware and MelosClaw are collaborating to improve AI functionality in the Web3 ecosystem by integrating their technologies.

user avatarDavid Robinson

Surge in Trading Volume Confirms Strong Market Participation for StakeStone

chest

Surge in trading volume for StakeStone's STO token by over 660% indicates strong market participation.

user avatarMiguel Rodriguez

StakeStone STO Price Surges to New All-Time High

chest

The price of StakeStone's STO token surged to an all-time high of 0.8427 on April 2, driven by a significant supply-demand imbalance.

user avatarArif Mukhtar

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.