Internal Struggles in South Korea, Did Upbit's Flash Crash Not Bring Down the Market?
Upbit is an independent spot trading system, so it often experiences premiums.
Upbit does not offer derivatives trading, and in the future, most platforms will likely restrict derivatives trading significantly.
Upbit is priced in Korean Won, whether it brings down the market will depend on the subsequent trading sentiment of South Koreans, whether it is positive or negative.
After all, the market share of cryptocurrency trading in South Korea is still relatively strong.
Upbit does not provide derivatives trading, so there's no need to worry about how much leverage was wiped out by its price spike.
However, Upbit's flash crash proves to us that the current cryptocurrency market is unstable, and any risk event could potentially lead to a flash crash.
