Korean Investors Seek New Altcoins Amid Worst Stock Market Session on Record

South Korea's benchmark stock index, KOSPI, experienced its steepest single-day decline ever, plunging over 12% amid escalating geopolitical tensions involving the US, Israel, and Iran, which also caused related dips in other Asian markets and a spike in oil prices. This severe downturn in equities, which followed a significant drop the previous day, contrasts sharply with the performance of the local crypto market. Newly listed altcoins on South Korean exchanges, such as Definitive Finance's EDGE token and Centrifuge's CFG token, posted significant double-digit gains following their listings on Upbit and Bithumb, respectively. This suggests that while traditional markets are suffering, some Korean retail investors are still actively seeking short-term profits in digital assets, although it is uncertain if this enthusiasm is sustainable or merely driven by listing hype.

(Source：BeInCrypto)