"The Reliability of Korean Cryptocurrency Market Plummets Due to Martial Law... Accelerated Corporate Capital Outflow"

With President Yoon Suk-yeol's declaration of martial law, the reliability of the Korean Cryptocurrency (Crypto) market is expected to plummet, while the outlook for promising cryptocurrency projects remains uncertain, and asset outflows are expected to continue.

On the 4th, the analysis firm Tiger Research predicted the market impact of the recent events through its report titled 'Martial Law in South Korea and the Crypto Market Outlook'.

According to the report, after the declaration of martial law, the trading volume of Korean exchanges like Upbit, Bithumb, etc., fell to 62.3 billion won, while the 24-hour trading volume recorded a significant 33 trillion won.

Tiger Research explained, "Due to political instability, the reliability of assets based on KRW has weakened, and investment movements are accelerating towards stable overseas exchanges like Binance, Coinbase, and decentralized finance (DeFi) platforms."

It was also noted that the overseas transfer of Korean blockchain projects is accelerating. The report stated, "Nexon's Nexspace is moving to Abu Dhabi, Kia is moving to Singapore, and Wemix is moving to Dubai, as many companies are transitioning to a blockchain-friendly environment."

Regarding the future market direction, it emphasized, "The market volatility is expected to continue due to short-term instability, and political risk and regulatory uncertainty are major challenges. Appropriate regulatory improvements and system stabilization are needed to ensure a stronger ecosystem."