Martial Law Archives - Coin Engineer https://coinengineer.net/blog/tag/martial-law/ Btc, Coins, Pre-Sale, DeFi, NFT Tue, 03 Dec 2024 19:19:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png Martial Law Archives - Coin Engineer https://coinengineer.net/blog/tag/martial-law/ 32 32 Martial Law Declared by South Korea! Bitcoin Takes a Dive! https://coinengineer.net/blog/martial-law-declared-by-south-korea-bitcoin-takes-a-dive/ https://coinengineer.net/blog/martial-law-declared-by-south-korea-bitcoin-takes-a-dive/#respond Tue, 03 Dec 2024 20:45:17 +0000 https://coinengineer.net/blog/?p=33193 South Korean President Yoon Suk-yeol has declared martial law, citing a severe political crisis. Yoon accused the opposition Democratic Party of attempting to paralyze the government and stated that the primary aim of martial law is to eliminate pro-North Korea elements within the state. He emphasized that this step is essential for rebuilding a free

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]]> South Korean President Yoon Suk-yeol has declared martial law, citing a severe political crisis. Yoon accused the opposition Democratic Party of attempting to paralyze the government and stated that the primary aim of martial law is to eliminate pro-North Korea elements within the state. He emphasized that this step is essential for rebuilding a free and democratic South Korea. In response, the opposition Democratic Party called on its members to convene in parliament.

The declaration has sent shockwaves not only through the political landscape but also across economic and financial sectors. South Korea is one of the most active markets in the cryptocurrency world, and these developments could have significant repercussions in the sector.

Impact on the Crypto Market

South Korean crypto exchanges, such as Upbit, play a vital role in the global crypto ecosystem, with Upbit alone handling over $11 billion in trading volume in the past 24 hours. The country’s vibrant crypto market has positioned it as a key player in shaping global trends.

Bitcoin Price Takes a Hit

Following the announcement of martial law, panic selling led to trading disruptions on local exchanges. Bitcoin’s price has dropped below $94,000, marking a sharp decline. Many cryptocurrencies traded on South Korean exchanges have experienced dramatic losses, with prices plummeting between 20% and 40%.

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