"Despite the inauguration of Korea's pro-virtual asset president, trading volume remains sluggish"
Summary
- "It was analyzed that despite President Lee Jae-myung’s pro-virtual asset pledges, market trading volume remains at a low level."
- "President Lee Jae-myung is reportedly pursuing progressive reforms such as the issuance of a KRW-pegged stablecoin and the approval of Bitcoin spot ETFs."
- "Matrixport noted that the president’s pledges have yet to attract the attention of the market."
Despite the inauguration of Lee Jae-myung, the Democratic Party of Korea president who put forth pro-virtual asset (cryptocurrency) pledges, market trading volume remains at a low level, an analysis suggests.
On the 5th (local time), Matrixport stated in a report, "Korea's President Lee Jae-myung is pursuing progressive virtual asset reforms, including the issuance of a KRW-pegged stablecoin and the approval of a Bitcoin (BTC) spot ETF." However, they emphasized, "Despite such efforts, Korea's virtual asset trading volume is still sluggish." The report added, "This means the president's pledges have yet to capture the market's interest."
As of 4:31 PM, Upbit's 24-hour trading volume stood at approximately $1,564.39 million according to CoinMarketCap, ranking 4th among all spot exchanges.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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