Following the introduction of martial law in South Korea, the country's five largest cryptocurrency exchanges have seen record spot trading volumes.
According to CoinMarketCap, the total trading volume on Upbit , Bithumb, Coinone, Korbit and Gopax reached $34,2 billion. This is significantly higher than the previous record of $18 billion, which was reached a day earlier (December 2).
Amid the introduction of martial law in the country, South Korean traders rushed to sell their digital assets on local platforms. The largest trading volume of $27,25 billion was recorded on South Korea's largest crypto exchange Upbit . Bithumb took second place with a value of over $6,14 billion.
The trading volume on the cryptocurrency exchange Coinone over the last 24 hours was more than $531 million. It is followed by Korbit with $192 million and Gopax with a trading volume of almost $9 million.
Martial law in South Korea, although short-lived, led to a drop in cryptocurrency prices against the Korean won. Bitcoin fell to 88 million won, its lowest since early October. Ethereum also fell to 4,2 million won. Prices later recovered.
