Korean Crypto-Related Stocks Surge as Bitcoin Rally Spurs Investment Wave
South Korean technology stocks surged on Monday, as the Bitcoin rally to near-all-time highs pushed investors to pour into the space. Companies related to the cryptocurrency industry led the move higher, indicating greater investor optimism in digital-asset markets.
Woori Technology, a venture investment company that focuses on fintech and blockchain-related startups, became the top gainer of the day, growing its stock prices by more than 14%. The company is one of the major shareholders of Dunamu, the operator of crypto exchange Upbit.
Hanwha Investment & Securities, a subsidiary of the popular conglomerate Hanwha Group, jumped 7.53% to close the day higher. Its businesses range from cryptocurrency investments to wealth and asset management, placing it well to capture the digital currency boom.
WIZIT, whose subsidiary T Scientific owns shares in Bithumb Korea, gained the same level of enthusiasm with a 7.76% increase, while Galaxia Moneytree, a financial services provider known for pioneering Bitcoin payment services in South Korea, saw surges as high as 10.66%.
The rally comes with increased buying and selling on Upbit, one of South Korea’s largest crypto exchanges, where volume nears the $2 billion mark. For now, BTC trading accounts for more than 17% of the flow on the platform—a clear indication that Bitcoin is leading the market momentum.
