South Korea Stock Market Woes Spark A Crypto Trading Spike

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Upbit recorded on July 29 a volume close to 200 billion won in its KRW-USDT market, equivalent to approximately 140 million USDT, compared to about 20 million USDT on July 25. The movement represented an increase of 600%, with the rotation in stablecoins accelerating while South Korean shares faced strong pressure. The rebound coincided with several days of losses that led the country’s stock market to fall almost 18% during the week.