South Korea's Crypto Craze: One-Third of Citizens Dive into Digital Assets

One-Third of South Koreans Now Own Crypto: Bank of Korea

According to a report by CCN.com, the crypto market in South Korea has experienced an unprecedented surge, with one-third of its population now owning digital assets. The Bank of Korea's findings reveal that over 15 million citizens are invested in cryptocurrencies, marking a significant increase partly influenced by external economic factors such as the U.S. presidential election. This boom is reflected in trading volumes on Korean exchanges, which are approaching levels comparable to those of traditional stock markets.

The rapid growth trajectory from July through November 2024 indicates consistent monthly increases in adoption rates among investors. Despite this enthusiasm for cryptocurrency investments, regulatory challenges persist due to postponed tax policies and lackluster guidelines, leaving room for potential volatility within the market.

Bitcoin Faces Short-Term Uncertainty Amid Market Dynamics

A recent analysis reported by TradingView highlights short-term uncertainties facing Bitcoin due to increased exchange inflows and declining Tether liquidity. On-chain data shows that more than 15,000 BTC are moving into exchanges alongside substantial outflows of USDT—suggesting possible selling pressure could lead to price corrections soon.

This trend points towards mixed signals where falling funding rates coupled with rising open interest indicate bearish sentiment among traders expecting either continued downward trends or sideways movement during quieter periods like Christmas week.

PancakeSwap Achieves Record $310 Billion Yearly Volume Growth

Cointelegraph reports PancakeSwap closed off 2024 with record-breaking success, reaching $310 billion in total trading volume—a remarkable rise driven largely by DeFi expansion along layer-2 blockchain networks Arbitrum & Base, showing exponential year-over-year increases respectively, according to their internal metrics shared publicly via the Cointelegraph article itself!

User-focused upgrades also played a crucial role in pushing the platform past this milestone while maintaining its position as the second-largest decentralized exchange globally, behind only Uniswap, based on daily transaction figures provided by DefiLlama sources cited throughout the coverage piece too...

FBI Identifies Hacker Behind Massive DMM Exchange Heist

The Daily Hodl reveals that federal agencies, including the FBI, have identified the North Korean group "TraderTraitor" as responsible for stealing a staggering sum, totaling approximately three hundred eight million dollars worth of bitcoin from the Japanese-based cryptocurrency firm known acronymically as 'DMM'. Investigations traced the breach back to March when a hacker posed as a recruiter, sent a malicious GitHub link to an employee at the partner company Ginco, gaining access and subsequently impersonating the worker to infiltrate communications, intercept, and modify legitimate requests, ultimately transferring stolen funds to wallets controlled by state-sponsored actors linked to the Pyongyang regime itself, further highlighting growing concerns around cybercrime targeting the digital asset space overall…

Bitget Launches New Phase of Wealthy Tuesday Promotions for Users Worldwide!

Markets Insider announces that Bitget, a leading web3 enterprise headquartered in Seychelles, unveiled the latest iteration of its popular promotional series, aptly named ‘Wealthy Tuesdays.’ Designed to reward loyal clientele, it offers attractive savings products featuring competitive annual percentage rates and flexible terms to optimize investment strategies effectively across the board. This applies regardless of whether dealing primarily with bitcoins or ethers, thanks to seamless transition functionality, ensuring idle capital continues generating returns uninterruptedly. This makes them an ideal choice for anyone looking to maximize profits on a long-term basis without sacrificing convenience or ease of use. Ultimately, it boils down to personal preference, individual needs, and circumstances dictating the course of action taken in the next steps forward on the journey to financial independence and prosperity. 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