Bitcoin Surpasses 100 Million KRW Amid Cryptocurrency Bull Market
Active Online 'Profit Verification'... Increased Individual Trading Volume
Recently, as the price of Bitcoin fluctuates around 100 million KRW, the cryptocurrency market is buzzing, and investors are continuously sharing their profit confirmations. Consequently, individual investors' cryptocurrency market transactions have also surged.
On the 5th, as Bitcoin continued its unstoppable rise and surpassed 90 million won, the Bitcoin price was displayed on the electronic billboard at the Upbit Customer Support Center in Gangnam-gu, Seoul. Photo by Jo Yongjun jun21@
On the 15th, an online community saw the spread of a post titled "Why live hard when money can be copied?" The post was a 'cryptocurrency profit confirmation' shared anonymously on a private university community in Seoul on the 13th. A university student, Mr. A, revealed his virtual asset investment details, stating, "Why do part-time jobs and internships? Are you a fool? Why live hard when money can be copied? Are you a fool?" According to the attached photo, he holds multiple virtual assets such as Polkadot (DOT), Waves (WAVES), Qtum (QTUM), and Chainlink (LINK), having invested about 61.4 million KRW and gained an estimated profit of approximately 43.24 million KRW. The rate of return reaches 70.43%.
Cryptocurrency transaction history disclosed by Mr. A. [Image source: Screenshot from the university student community 'Everytime']
Fellow students who saw this responded with envy, saying things like "Just one snack for me," "Whenever I buy, it’s always at the peak, so I get stuck," "Show off by buying chicken," and "Just one cup of coffee for me." The craze for profit confirmations due to the rising cryptocurrency prices seems to have spread to university campuses as well. However, some netizens expressed concerns, commenting, "You might lose everything in one go," "Making money rapidly means the risk is extremely high," and "It’s not just money copying; sometimes money disappears like magic."
Cryptocurrency transaction details disclosed by public official B. [Image source=Captured from the employee community 'Blind']
Earlier, on the 11th, when the price of Bitcoin, the leading cryptocurrency, surpassed 100 million KRW on domestic exchanges, setting a new record high, profit confirmation posts quickly followed. On an anonymous community for office workers, Mr. B, whose verified occupation is a public servant, posted a message titled "Going to buy Apgujeong Hyundai (apartment) today." According to the attached photo, he held about 35.329 Bitcoins, with an estimated value exceeding 3.52216 billion KRW at that time. An employee at a large corporation also shared a post confirming a 355% rate of return, and another office worker posted a confirmation of a profit of 790.96 million KRW.
Enticed by such profits, individual investors’ cryptocurrency trading is reportedly surging. According to cryptocurrency data analysis firm CoinGecko, on the 14th afternoon, the 24-hour trading volume across the five major domestic exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) reached approximately 12.22 trillion KRW. This exceeded the trading value of the KOSDAQ market (10.4467 trillion KRW) on that day and was comparable to the trading value of the KOSPI market (13.5273 trillion KRW).
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