South Korea’s crypto trading volume surged 82% to $964 million on July 28 as the stock market experienced a historic sell-off. The KOSPI index dropped more than 20% in five days, losing approximately 864 trillion won and triggering circuit breakers. On Upbit, KRW-USDT trading volume exploded 600%, rising from $20 million to nearly $140 million, while Bithumb saw volume increase 438%. Analysts suggested traders either rotated capital into digital assets or sought stablecoin liquidity to meet margin obligations elsewhere. South Korean stocks subsequently rebounded 18.27%, recovering 720 trillion won, which could reverse crypto flows.
Source: Read the original article
