The Korean won drops to multi-year lows, with trading volume of stablecoins on Korea's five major exchanges surging by 62%, and USDT trading volume reaching 378.2 billion KRW (approximately $261 million). Banks cut US dollar deposit interest rates, and after nine consecutive days of decline, the government and president issued statements indicating intervention, leading to a slight stabilization of the won. #Stablecoins $USDT
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The Korean won drops to multi-year lows, with trading volume of stablecoins on Korea's five major exchanges surging by 62%, and USDT trading volume reaching 378.2 billion KRW (approximately $261 million). Banks cut US dollar deposit interest rates, and after nine consecutive days of decline, the government and president issued statements indicating intervention, leading to a slight stabilization of the won. #Stablecoins $USDT