Bitcoin trading volume in South Korea dismounts county’s entire stock exchange market

Bitcoin trading volume in South Korea dismounts county’s entire stock exchange market
фото показано с : zycrypto.com

2021-3-16 18:51

On the 14th of March, the daily domestic cryptocurrency transactions from the four major Crypto exchanges in South Korea surprisingly exceeded the combined daily average transaction of KOSPI and KOSDAQ.

According to CoinMarketCap, the daily transaction of the four major Crypto exchanges in South Korea totaled a record high of [KRW16 trillion, 6947 billion], this exceeds the values of the average daily transactions of both the Korea Composite Stock Price Index, KOSPI, and the Korean Securities Dealers Automated Quotations, KOSDAQ, both under the Korea Exchange which were [KRW16,459 billion] and [KRW11,4126 billion] respectively. 

The report which revealed the values of transactions of the four major exchanges in the country noted that as at 3 AM on the 14th of March, the figures were: Upbit, KRW13,678 billion; Coinone, KRW594 billion; Bithumb, KRW2375.8 billion; and Kobit, KRW46.9 billion.

Transactions in cryptocurrencies in the country have increased due to the influence of the rise in bitcoin market value. Bithumb – a Cryptocurrency Exchange within the country – noted that this value has over the past week continued to increase, surpassing KRW70 million on the 14th of the month.

Furthermore, the high level of demand for bitcoin in North America has contributed to the increasing value of the coin. 

There have been major inflation concerns prompted by the $1.9 trillion stimulus bill that was recently signed into law by US President Joe Biden. These concerns have influenced increasing demand for bitcoin as more people flock to the virtual asset. 

Consequently, Grayscale Investments LLC, an American company that manages cryptocurrency investment funds with headquarters in New York, revealed on Twitter that assets under their management had reached a record high of US$44.1 billion.

It is important to note, also, that the first Bitcoin ETF launched by Canadian company Purpose Investments Inc. last month contributed to the market value of bitcoin as it surpassed KRW1 trillion after three weeks into the launch of the ETF.

Due to the fact that the domestic stock market has recently been prolonged, lots of investors have set their eyes on virtual assets. This has influenced a decline in the number of stock investments and an increase in crypto investments as recorded in a report by the Korea Financial Investment Association, KOFIA, and Financial Services Commission. 

Recall that a similar Cryptocurrency craze had occurred in South Korea in late 2017, with the media dubbing it the crypto “fever”. While the influence of the virtual market has since decreased as compared to three years ago, there is every reason to believe that there will be a major turnaround soon due to the recent breakthroughs virtual assets have been making.

origin »

Amun Bitcoin 3x Daily Long (BTC3L) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 2.3436 (-100%)

daily south korea crypto major exchanges four

daily south → Результатов: 126


В Китае предложили использовать криптовалюту для поощрения военных

Официальная газета Народно-освободительной армии КНР PLA Daily предложила поощрять криптовалютой военнослужащих за хорошую службу. Об этом сообщает South China Morning Post. Газета описала систему вознаграждения армейского персонала токенами на основе блокчейна за успехи в учебе и эффективное выполнение заданий.

2019-11-15 13:30


Фото:

World’s Largest Army Could Be Rewarded in Crypto Soon

A few weeks after Chinese President Xi Jinping praised blockchain, a local military newspaper hinted that Chinese soldiers could be rewarded in crypto for their loyalty and good performance. Chinese Soldiers Might Get Rewards in Crypto The South China Morning Post cited PLA Daily, the official newspaper of the People’s Liberation Army, as saying that the Chinese army would drive innovation by implementing blockchain.

2019-11-14 15:51


Largest Power Provider in South Korea Plans to Establish Blockchain System for Renewable Energy

Blockchain technology is finding new use cases around the world, and South Korea is taking advantage of its features in a new announcement by Energy Daily. According to the publication, the Korea Electric Power Corporation (KEPCO) has decided to sign a contract involved two domestic power suppliers. In this contract, KEPCO outlines their plant to […]

2019-6-5 04:29


Фото:

South Korean police use AI to bust $19M Bitcoin-fuelled pyramid scam

South Korean police have caught the masterminds of a Bitcoin-fuelled Ponzi scheme responsible for generating almost $19 million in revenue. The scam, called “M-Coin,” is said to have targeted those with poor understanding of the technology – mostly elderly people, retirees, and housewives – with promises of free cryptocurrency and recruitment bonuses for signing up others, reports Korea Joon Gang Daily.

2019-4-8 12:29


Crypto Tokens Enjin, ICON Soar 20% but Bitcoin Remains Woefully Stable

Throughout the past several days, Bitcoin has remained relatively stable at $3,900. The stability of BTC has led crypto tokens to record massive spikes in the range of 10 to 100 percent. Enjin Coin, for instance, the native cryptocurrency of a gaming-focused blockchain network called Enjin, surged by 100 percent at its daily peak following its partnership with Samsung.

2019-3-9 14:57


Фото:

In The Daily: Cointelligence Exchange Rating, Bithumb OTC, Telegram, Ton

In the first edition of The Daily this weekend, we cover the details around the launch of a new cryptocurrency exchange rating system by Cointelligence. Also, South Korean exchange Bithumb has announced it’s establishing an OTC trading desk in Hong Kong, and the popular messenger service Telegram has postponed the launch of its TON network […] The post In The Daily: Cointelligence Exchange Rating, Bithumb OTC, Telegram, Ton appeared first on Bitcoin News.

2019-2-9 17:15


Фото:

Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight

Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant:Figure 1: BTC-USD, 4-Hour Candles, Bear Pennant BreakoutThis is a massive bear pennant with a staggering $2,000 measured move.

2018-12-12 01:52


Фото:

What Is Cryptocurrency? “Jeopardy!” Features Entire Category on Crypto

Is cryptocurrency becoming more mainstream? It could be if one of America’s most prominent game shows features an entire category devoted to it. The November 29, 2018, episode of “Jeopardy!” — which has been on the air since 1964 — offered five unique questions centered around cryptocurrencies and their technology to test out its contestants’ knowledge on the subject: The results reveal that they did indeed know their fair share.

2018-12-1 22:18


Фото:

The Daily: Cloud Outage Affects Exchanges, Okex Launches ICO Information Platform

In the Saturday edition of The Daily, we look at a technical issue with Amazon’s cloud services network that has forced two major South Korean crypto exchanges to temporarily go offline. In other news, Malta-based digital asset exchange Okex has launched a platform offering information on initial coin offerings and Estonia has issued licenses to […] The post The Daily: Cloud Outage Affects Exchanges, Okex Launches ICO Information Platform appeared first on Bitcoin News.

2018-11-24 17:40


RAPA And Jeju University In South Korea Sign MoU To Promote Blockchain Technology

According to the South Korean news outlet Seoul Economic Daily, the Korea Radio Promotion Association (RAPA) and Jeju University, have signed a Memorandum of Understanding (MoU). With this partnership, the intention is to promote blockchain technology in the country and improve the competitiveness of local companies. RAPA is known in the country as the firm […]

2018-11-18 06:52