South Korea’s KOSPI extended its sell-off on July 14, falling 4% intraday to 6,534.34, while SK Hynix dropped more than 7%. At the same time, Upbit’s 24-hour trading volume jumped 1,426% to $4.27 billion, according to CoinGecko. The sharp increase in crypto trading came as the stock market weakened and forced liquidations in South Korean equities reached about KRW 425.8 billion ($286 million) between July 1 and July 10. Investors will watch whether volatility continues across both stock and crypto markets.
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