South Korea’s martial law which lasted for six hours created panic in the crypto market pushing trading volumes in the country to a record $34 billion.
South Korea’s President Yoon enacted an emergency Martial law in the country on December 3 citing the necessity to protect the country from North Korean communist forces.
The news threw the country into turmoil sparking political unrest and clashes with law enforcement.
On the crypto side of things, Crypto holders in the country were rushing to sell their crypto holdings on local exchanges leading to a surge in trading volume.
CoinMarketCap data revealed that the combined crypto spot trading volume from Upbit, Bithumb, Coinone, Korbit, and Gopax reached a volume of $34.2 billion in the 24 hours following the development.
Crypto trading volume in the Asian country surpassed stock trading volume by 22%. This was a direct result of the unrest in the country caused by crypto holders panicking to sell their assets. The massive surge…