[Featured Stock] Vident Falls Over 5% Amid Bitcoin Price Decline

[Asia Economy Reporter Lee Jung-yoon] As the price of the representative cryptocurrency Bitcoin falls, Vidente's stock price is showing a weak trend.

As of 10:55 a.m. on the 11th, Vidente is trading at 12,350 won, down 5.36% from the previous day.

Vidente is the largest shareholder holding 10.23% of Bithumb Korea, the operator of the cryptocurrency exchange Bithumb.

Meanwhile, the current Bitcoin price is in the $30,000 range. According to the global cryptocurrency market tracking site CoinMarketCap, as of 10:59 a.m. on the same day, the Bitcoin price was $30,861 (approximately 39.41 million won), down 0.47% from the previous day. The day before, due to concerns over the U.S. Federal Reserve's (Fed) interest rate hike and recession fears, the U.S. stock market plunged sharply, causing Bitcoin's price to drop by about 10%.