PANews reported on December 3 that, according to on-chain analyst @ai_9684xtpa, the cryptocurrency market in South Korea collectively crashed following the announcement of a state of emergency late at night. Upbit's BTC plummeted by 30%, hitting a low of $66,500, while XRP saw a more dramatic drop, plummeting 60% from $2.9 to $1.16 in a single spike.
According to Jinshi's report, the political turmoil in South Korea has intensified as President Yoon Suk-yeol announced a "state of emergency" late at night. The main opposition party, the Democratic Party, is convening members to the National Assembly. The leader of the ruling party, Han Dong-hoon, opposes the president's implementation of martial law, stating that the announcement of martial law is a mistake and vowing to prevent this measure.
