Martial Law in South Korea Triggers Crypto Price Drop on Local Exchanges
03.12.2024 17:44 1 min. read Alexander Zdravkov
Bitcoin and other altcoins experienced significant declines on South Korean exchanges, triggered by the government’s announcement of martial law.
Following the declaration of a state of emergency, major cryptocurrencies, including Bitcoin, saw a drop of up to 30% against the South Korean won.
The crisis began when President Yoon Suk Yeol implemented emergency martial law, accusing opposition parties of undermining the government, supporting North Korea, and obstructing the country’s legislative functions.
This political turmoil led to widespread negative sentiment, which extended to local cryptocurrency markets, causing sharp declines in the prices of popular coins like Bitcoin, XRP, and Dogecoin on platforms like Upbit. On Upbit, some traders managed to buy Bitcoin at $80,000 due to a spike.
Additionally, South Korea reportedly placed all media outlets under government control after the president declared martial law.
-
1
Trump Family Reaches Resolution on Memecoin Dispute, Eyes Major Token Purchase
08.06.2025 14:00 2 min. read -
2
XRP Could Beat Solana to the ETF Finish Line, Analysts Say
12.06.2025 17:00 2 min. read -
3
Pi Price Prediction: Can Pi Coin Retest All-Time Lows?
13.06.2025 20:10 3 min. read -
4
Plasma’s ICO: A $500M Frenzy Sparks Fairness Debate
10.06.2025 22:00 2 min. read -
5
Bitcoin Holds Above $100K, But Analyst Sees Trouble Brewing
07.06.2025 17:00 1 min. read
XRP Price Prediction: Can XRP Hit $4 After XRPL EVM Sidechain Launch?
XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]
Ethereum Launches Onchain Time Capsule to Mark 11th Anniversary in 2026
A community-driven initiative launched Monday is inviting Ethereum users to lock art, memories, and personal messages inside a decentralized “time capsule,” set to be opened on the network’s 11th anniversary next year.
Ethereum Accumulation Surges While U.S. Politics Stir Market Uncertainty
A new CryptoQuant report highlights a growing divergence between long-term Ethereum holders and short-term Bitcoin buyers, with significant accumulation behavior unfolding in both markets amid increasing political and economic tension in the U.S.
TRON (TRX) Eyes Breakout as Bollinger Bands Signal Squeeze
According to a new analysis from CryptoQuant, TRON (TRX) may be gearing up for a breakout as tightening Bollinger Bands point to an imminent expansion in volatility.
-
1
Trump Family Reaches Resolution on Memecoin Dispute, Eyes Major Token Purchase
08.06.2025 14:00 2 min. read -
2
XRP Could Beat Solana to the ETF Finish Line, Analysts Say
12.06.2025 17:00 2 min. read -
3
Pi Price Prediction: Can Pi Coin Retest All-Time Lows?
13.06.2025 20:10 3 min. read -
4
Plasma’s ICO: A $500M Frenzy Sparks Fairness Debate
10.06.2025 22:00 2 min. read -
5
Bitcoin Holds Above $100K, But Analyst Sees Trouble Brewing
07.06.2025 17:00 1 min. read