South Korean Stock Market Experiences Record Drop, While Upbit Platform Sees Significant Increase in Trading Volume

BlockBeats News, March 3rd, according to Bitget market data, today's South Korea KOSPI index plummeted by 7.25%, marking the largest single-day decline since August 5, 2024. Analysis points out that the U.S. military action against Iran has triggered Middle East tension. South Korea imports 70% of its oil through the Hormuz Strait, and the surge in oil prices has intensified energy risks and capital outflows.

On the other hand, South Korea's largest cryptocurrency exchange Upbit has seen a significant recovery in trading volume. Today, its 24-hour trading volume has exceeded $1.6 billion, with a daily increase of 29.2%.