The recent declaration of martial law in South Korea caused a lot of fear in the cryptocurrency market, traders quickly selling off their assets. This led to some drops in the prices crypto market , as the market reacted to the political uncertainty.
Upbit, one of South Korea's largest crypto exchanges, was particularly affected by this sudden panic. Many people rushed to trade, leading to heavy market activity and even technical problems on the platform. This event shows how sensitive the cryptocurrency market is to political events, as such news can quickly lead to price swings.
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