Record crypto trading volume in South Korea after martial law

user avatar

by Giorgi Kostiuk

2 years ago

South Korean crypto exchanges recorded a record trading volume following the implementation of martial law. This is due to political instability.

Growth of trading volumes amidst political events

According to CoinMarketCap, the spot trading volume on the five largest South Korean crypto exchanges - Upbit, Bithumb, Coinone, Korbit, and Gopax - reached $34.2 billion over the past 24 hours. The previous record of $18 billion was surpassed due to the martial law implementation and subsequent trading surge.

Crypto market analysis

Upbit contributed the largest share of the spot trading volume at $27.25 billion, followed by Bithumb at $6.14 billion, Coinone at $531 million, Korbit at $192 million, and Gopax with nearly $9 million. This spike in activity led to significant price fluctuations for major cryptocurrencies such as Bitcoin and Ethereum, as well as altcoins like Ripple, Stellar Lumens, and Solana.

Crypto prices in South Korea plummeted along with the South Korean won.

Reasons and implications of martial law

Martial law in South Korea was enacted on December 3 at 23:00 KST. Bans on protests and media control led to mass protests and unrest. The government implemented emergency measures in response to a supposed threat from "North Korea's communist forces." However, many believe it was intended to curb domestic pressure that could lead to President Yoon Suk-yeol's impeachment.

Events in South Korea highlight the role political stability plays in shaping the cryptocurrency market. Emergency decisions can significantly impact trading volumes and asset prices.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

OpenAI Claims to Solve Navier-Stokes Equations Amid Controversy

chest

OpenAI announced on September 8, 2026, that it has solved the Navier-Stokes equations, a significant problem in mathematics, but faces criticism from NYU mathematician Tristan Buckmaster regarding the originality of the solution.

user avatarTenzin Dorje

Cronos Reverses Transactions to Mitigate Exploit Damage

chest

Cronos blockchain network rolled back nearly two hours of transaction history to recover funds after a significant exploit of the Tectonic lending protocol.

user avatarBayarjavkhlan Ganbaatar

MEXC Introduces Opportunity Compass for Enhanced Market Understanding

chest

MEXC has launched Opportunity Compass, an educational initiative aimed at helping users understand both crypto and traditional financial markets.

user avatarMohamed Farouk

MEXC Introduces Opportunity Compass for Crypto Education

chest

MEXC has launched Opportunity Compass, an initiative aimed at educating cryptonative users about global markets and financial opportunities.

user avatarElias Mukuru

Zoomex Highlights Market Volatility Amid Economic Shifts

chest

Zoomex highlights its platform's capabilities during a week of sharp market volatility driven by economic data, enabling traders to respond in real-time.

user avatarDiego Alvarez

Tesla Faces Regulatory Scrutiny, Stock Drops

chest

Tesla's shares fell 6% following a new investigation into its autonomous vehicle technology by the National Highway Traffic Safety Administration, highlighting the impact of regulatory scrutiny on the stock market.

user avatarMaria Fernandez

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.