Cambodia Blocks Access to 16 Crypto Exchange Websites
According to Nikkei Asia, Cambodia has taken a significant step in its ongoing battle against the illegal cryptocurrency market by blocking access to 16 crypto exchange websites. This move includes major platforms such as Binance and Coinbase. Despite this action, apps associated with these exchanges remain accessible, underscoring the challenges faced by Cambodian authorities in regulating a decentralized industry that continues to thrive despite legal restrictions.
Bitcoin Exchange Reserves Reach New Lows
Yahoo Finance reports that Bitcoin exchange reserves have fallen to their lowest level in years at 2.46 million BTC. This trend suggests an increasing inclination among investors towards long-term holding rather than trading or selling their assets on exchanges. The decline in reserve levels is often interpreted as a bullish signal for Bitcoin's price trajectory since it indicates reduced sell pressure from holders.
Bitget Launches BitEXC Customized Crypto Exchange in Vietnam
A recent article from Cointelegraph highlights Bitget’s strategic expansion into Southeast Asia with the launch of BitEXC, a customized crypto exchange tailored specifically for Vietnamese users. With Vietnam ranking second globally for cryptocurrency ownership, this new platform aims to capture local preferences through features like peer-to-peer trading and integration with popular payment services such as ViettelPay and Momo.
Crypto Exchange Volumes Surge Following US Election Results
An analysis shared by TradingView reveals that monthly crypto exchange volumes reached $3 trillion last November following Donald Trump's presidential election win. Industry experts attribute this surge partly to expectations of more favorable regulatory conditions under his administration which could foster greater adoption and investment within the sector both domestically and internationally.
South Korea's Martial Law Sparks Market Instability
The declaration of emergency martial law by South Korean President Yoon Suk Yeol led to unprecedented volatility across local crypto markets according to Crypto Briefing. Bitcoin prices plunged over 30% on Upbit before recovering slightly above global averages due largely to increased fear-driven selling activity amidst political uncertainty surrounding North Korea-related tensions. This significantly impacted investor confidence, potentially affecting broader economic stability regionally if left unchecked without appropriate measures being implemented swiftly to prevent further escalation beyond the current crisis.
Sources:
- Cambodia blocks access to 16 crypto exchange websites
- Bitcoin Exchange Reserves Fall to 2.46 Million BTC, Lowest Level in Years, Signaling Long-Term Investment Trend
- Bitget launches BitEXC customized crypto exchange in Vietnam
- Crypto exchange volumes hit 3 year high in November, riding Trump’s win
- Bitcoin crashes to $62,000 on Upbit after South Korea enacts emergency martial law
- Ethereum Memecoin That’s Up 8,776% This Year Placed on Coinbase Listing Roadmap
