Martial Law Sparks Market Panic
South Korean President Yoon Suk-yeol declared emergency martial law late Tuesday, citing threats from North Korea and anti-state elements. The move placed military control over civilian functions, a step not taken since 1980.Crypto Prices Plummet
The announcement triggered sharp declines in cryptocurrency prices on local exchanges. Bitcoin plunged 12% on Upbit, while stablecoin Tether fell to 84 cents. Altcoins like XRP, Shiba Inu, and Dogecoin saw double-digit losses as the market reacted to the heightened political tension.Exchange Accessibility Issues
The surge in traffic caused accessibility issues on Upbit’s mobile trading app, with users facing delays. The martial law declaration has left crypto investors uncertain, adding volatility to an already sensitive market.
Read the full article on
theblock.
