Naver Stock Discussion Room 'Gasangjasan' Established
"Coins Have Also Become Mainstream" Excitement
The 'Virtual Assets' category has been newly added to the stock discussion rooms (Jongtobang) on the financial page operated by 'Naver,' the largest portal site in South Korea. Jongtobang is the largest online investment-related bulletin board in the country, where individual investors can freely express their opinions without censorship. Some netizens expect that the virtual currency Jongtobang will revitalize the domestic coin community, which has been filled with negative news until now.
The virtual currency Jongtobang was reportedly first introduced on Naver's mobile page on the 4th. The 'N' symbol, indicating newness, is displayed next to the virtual currency category. Other than primarily dealing with virtual currencies, it is not significantly different from other Jongtobang sections.
At the top of the page, users can quickly check the price trends of well-known virtual currencies such as Bitcoin, Ethereum, and Dogecoin, and industry-related news updates are provided in real time. Of course, 'stock discussion rooms' for each currency are also supported.
Virtual currency investors are expressing their excitement. Posts include comments like "Finally, Bitcoin is starting to be recognized as a financial asset," "This is a monumental event," and "I never imagined coins would appear on the main page."
The largest financial community that has shared the 'ant investor history'... now supporting virtual currencies
Jongtobang is a space that has paralleled the history of financial investment in South Korea. It is a community supported by Naver Securities since its service launch in 2003 and is known as one of the most active financial bulletin boards in the country today.
Jongtobang is unique in that it not only provides investment stock prices and financial news but also serves as a 'discussion forum' where shareholders and individual investors freely exchange opinions about stocks. While other securities sites also support stock discussion rooms, few have been as active for over a decade as Naver's Jongtobang.
Because of this, it promotes the influx of new investors and is regarded as a board where the average sentiment of domestic investors can be gauged. Some investors even use Jongtobang as a so-called 'human indicator' to measure the domestic investment climate.
Netizens investing in virtual currencies also hope that the 'virtual currency Jongtobang' will serve as a catalyst. One netizen said, "I don't expect investment insights, but the activation of Jongtobang means there are more coin investors domestically," adding, "The more the keyword 'coin' becomes known, the more positive I think it is."
The coin market stained by bankruptcies and crashes, will it rise again?
Three suspects in their 40s involved in the kidnapping and murder of a woman in her 40s in Gangnam-gu, Seoul, are being transported by a prison transport vehicle to the Seoul Central District Court for a pre-arrest detention hearing on the morning of the 3rd at Suseo Police Station in Gangnam-gu, Seoul. [Image source=Yonhap News]
There is also hope that the activation of Jongtobang could ease the public's cold perception of virtual currencies. The virtual currency market, including Bitcoin, has experienced several cycles of rapid rises and falls over the past few years. In 2021, when COVID-19 infections were at their peak, forecasts predicted Bitcoin prices would exceed $50,000 (about 65 million KRW), but currently, prices remain around the $20,000 (about 26 million KRW) range.
The bankruptcy of FTX, once ranked among the world's top three cryptocurrency exchanges, and the crash of Terra/Luna coins issued by Terraform Labs founded by Kwon Do-hyung, have spread the perception that 'virtual asset investment is risky.'
The so-called 'Gangnam Coin Murder Case' that occurred on the 29th of last month is also reported to have been triggered by virtual currency. According to the Suseo Police Station in Seoul, three suspects kidnapped a female victim, A, at an apartment in Yeoksam-dong, Gangnam-gu, around 11:48 p.m. that day, murdered her near Daejeon, and disposed of the body.
They were urgently arrested by the police on the 31st. Police investigations revealed that two suspects were directly involved in the murder, while the remaining one is presumed to be an accomplice. During police interrogation, one suspect stated that the crime was committed "with the intention of taking A's coins."
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