South Korean Crypto Market Recovers After Martial Law Withdrawal

韩国解除戒严令后加密货币市场恢复

Following the initial announcement of martial law by President Yoon Suk Yeol, leading cryptocurrencies such as XRP, Bitcoin (BTC), and Dogecoin (DOGE) experienced a brief decline on the Upbit exchange. However, the crypto market swiftly recovered within hours after the withdrawal of martial law.

在总统 Yoon Suk Yeol 最初宣布戒严令后，XRP、比特币 (BTC) 和狗狗币 (DOGE) 等领先加密货币在 Upbit 交易所经历了短暂下跌。然而，戒严令解除后数小时内，加密货币市场迅速恢复。

Martial Law Withdrawal

戒严令撤回

President Yoon Suk Yeol promptly rescinded martial law within six hours of its imposition. A cabinet meeting held at 4:30 am local time resulted in the parliament rejecting the measure, with 190 out of 300 members voting against it.

韩国总统尹锡烈在戒严令实施后六小时内立即废除了戒严令。当地时间凌晨4点30分举行的内阁会议导致议会否决了这项措施，300名议员中有190人投了反对票。

Impact on Crypto Market

对加密货币市场的影响

The imposition of martial law initially triggered a widespread decline in the crypto market, particularly affecting XRP, Bitcoin, and Dogecoin. The South Korean exchange Upbit was significantly impacted by the downturn.

戒严令的实施最初引发了加密货币市场的广泛下跌，特别是影响了 XRP、比特币和狗狗币。韩国交易所 Upbit 受到经济低迷的严重影响。

Recovery

恢复

Upon the lifting of martial law, XRP, Bitcoin, and Ethereum witnessed a surge in recovery. XRP, which had suffered the most, rebounded by 9.2%, followed by Ethereum's 3.3% and Bitcoin's 2.4% recovery.

戒严令解除后，XRP、比特币和以太坊出现复苏。跌幅最大的 XRP 反弹 9.2%，其次是以太坊反弹 3.3%，比特币反弹 2.4%。

White House Response

白宫回应

The White House expressed relief over the reversal of martial law, stating, "We are relieved President Yoon has respected the ROK National Assembly's vote to end it."

白宫对戒严令的撤销表示宽慰，表示：“尹总统尊重韩国国民议会结束戒严令的投票，我们感到欣慰。”

Preceding Market Trend

前期市场走势

Prior to the imposition of martial law, South Korea's retail crypto trading volumes had witnessed a significant increase, reaching the second-highest level in 2024. This fueled interest in high-momentum altcoins such as XRP and Cardano.

在实施戒严之前，韩国的零售加密货币交易量大幅增长，并于 2024 年达到第二高水平。这激发了人们对 XRP 和 Cardano 等高势头山寨币的兴趣。