The Korean stock market continued its decline on July 14, with a drop of 4 per cent in the KOSPI disk, reporting 6534.34 points and a drop of more than 7 per cent in the weight share of SK Hercules. While the stock market was under pressure, there was a marked increase in the transactions of the Korean encryption platform Upbit.
Upbit trading up to $4.27 billion
According to CoinGecko, Upbit has increased over the past 24 hours to $4.27 billion, an increase of 14.26 per cent. This change occurred during the fast fall of the Korean stock market, showing a marked shift from local funds to encrypted asset transactions in a highly volatile environment.
The Korean stock has been forced to increase.
The recent decline in the Korean stock market has also been accompanied by increased pressure on the finance pool. The data show that, between 1 and 10 July, the size of the Korean stock market was approximately 42,58.8 billion won, or approximately $286 million. As stock prices fall, the passivity of leverage increases.
- KOSPI dropped 4%
- SK Hercules is down by over 7%.
- Upbit 24 hour trade volume is $4.27 billion
Market concerns about the continuation of volatility
The decline in the stock market has been compounded by the volume of encrypted transactions, reflecting a rapid change in local market risk preferences. On the one hand, the stock market was still being released; on the other hand, the encrypted market was active, suggesting that some of the funds were looking for a more liquid place to deal.
Next, the market will continue to observe whether the volatility of South Korea ' s equities and encrypted assets has increased further, as well as the sustainability of the high level of trade.