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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/south-korean-investors-trigger-significant-volatility-in-cryptocurrency-market/" data-wpel-link="internal">South Korean Investors Trigger Significant Volatility in Cryptocurrency Market</a> 
As of the writing of this article, the leading <a href="https://en.coin-turk.com/apple-prepares-to-remove-bitcoin-payment-platform-damus-from-app-store/" data-wpel-link="internal">cryptocurrency</a> is hovering around $93,650, having experienced a drop of nearly $1,000 in recent minutes. However, this decline is overshadowed by a more significant plunge against the South Korean won. Investors from South Korea may ignite substantial fluctuations in the cryptocurrency markets in the hours to come. 
<h2 style="text-align: justify" id="cryptocurrencies-may-decline">Cryptocurrencies May Decline</h2> 
The declaration of martial law in South Korea resulted from opposition parties disrupting government administration. This situation prompted investors in the country to suddenly sell their Bitcoin against the KRW pair. The uncertainty in South Korea, one of Asia’s cryptocurrency hubs, could lead to major fluctuations in other <a href="https://en.coin-turk.com/bitcoin-surpasses-previous-high-turkish-investors-crypto-preferences/" data-wpel-link="internal">cryptocurrencies</a> as well. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-411724 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/BTCKRW_2024-12-03_16-59-13.png" alt="" width="1815" height="836"> 
<blockquote> 
 “South Korean President Yoon announced martial law. Yoon: The administration has been paralyzed due to the opposition parties’ stance.” – COINTR 
</blockquote> 
The BTC/KRW pair has experienced a 30% drop, and while it has somewhat recovered, <a href="https://en.coin-turk.com/pendle-team-transfers-625000-coins-to-binance-sparking-market-reactions/" data-wpel-link="internal">altcoins</a> face a riskier situation under martial law. If investors replicate their actions with Bitcoin on altcoins, the decline in their KRW pairs could be even more pronounced. Notably, XRP Coin is a highly traded asset in the country, with 30% of the volume on Upbit exchange attributed to XRP. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-411725 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/upbit-hacim-siralamasi.png" alt="" width="1427" height="757"> 
The post <a href="https://en.coin-turk.com/south-korean-investors-trigger-significant-volatility-in-cryptocurrency-market/" data-wpel-link="internal">South Korean Investors Trigger Significant Volatility in Cryptocurrency Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

South Korean Investors Trigger Significant Volatility in Cryptocurrency Market

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