1 min readIn South Korea, cryptocurrency trade volume reached a record $34 billion across local spot exchanges earlier this week.
This surge coincided with the country’s President declaring martial law for a brief period. During this period, Bitcoin flash-crashed to approximately $82 thousand in equivalent value on Korean exchanges before quickly rebounding. This highlights that liquidity remains a priority for many investors. Bitcoin has not yet solidified its role as a store of value and continues to behave as a risk-sensitive, interest-rate-dependent asset.
Meanwhile Bitcoin has broken through the psychological $100K barrier and Ethereum has outperformed, trading at 90-day highs above $3.9K.
Ripple (XRP) remains a notable standout, up 385% in a month, although it has pulled back 15% from its peak, likely due to an overextended rally. Solana has also experienced volatility, initially selling off after surpassing its all-time high but rebounding after NYSE Arca proposed listing the Grayscale Solana Trust ETF.
Finally, Paul Atkins has been announced as the next SEC Chair, set to take over once Gary Gensler steps down on Trump’s inauguration. Atkins appointment may signal a shift away from the SEC’s current "regulation by enforcement" approach.
