Stablecoin stocks surge rally… Danal up 21%·HancomWith up 11%↑ [Stocks+]

Stablecoin-related stocks continued to show intraday strength in the market on the 19th.

As of 1:50 p.m. that day in the KOSDAQ market, stablecoin-related issues were uniformly higher. Danal is soaring 21.27% compared to the previous trading day. Bankware Global (17.36%), HancomWith (11.80%), Deozun (10.75%), NHN KCP (10.75%) also showed concurrent gains. Me2on rose 5.97%, and Hecto Financial jumped 4.64%. In the KOSPI market, Kakao Pay rose 2.18% and LG CNS rose 0.28%.

This trend is interpreted as having affected domestic investor sentiment after stablecoin and crypto asset-related stocks in the U.S. market all jumped the previous day. With expectations growing that the U.S. central bank (Fed) will cut benchmark interest rates and liquidity will expand, the easing of regulatory uncertainty around crypto assets and stablecoins stimulated investor sentiment.

The possibility of dollar weakness and an increased preference for risk assets also coincided. On the 18th (local time) in New York markets, stablecoin issuer Circle surged 7.16%, and crypto exchange Bullish shot up 20.72%.

Expectations for increased inflows of institutional funds also played a part. As large funds flowed into the crypto market, such as the resumption of net inflows into Ethereum spot ETFs, the growth potential of related companies was highlighted. The expansion of the stablecoin ecosystem and prospects for strengthened DeFi utilization were also analyzed as having increased investment appeal.

Reporter Park Joo-yeon grumpy_cat@hankyung.com