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Gate Research Daily Report: On June 23, the crypto market was impacted by rising geopolitical tensions in Iran, with BTC briefly dipping to 98,000 USDT before forming a sharp V-shaped rebound, while ETH saw range-bound consolidation. Most altcoins declined, and overall market sentiment leaned toward neutral-to-fear. Among trending tokens, IP Story surged over 14% driven by positive news and a technical breakout; Hyperliquid rose 7.31% amid strong capital inflows and strategic partnerships; Kaia gained 6.54% on favorable policy developments and ecosystem expansion. Meanwhile, Korean payment giant Kakao Pay accelerated its push into the KRW stablecoin space. Geopolitical risks heightened risk-off sentiment and market volatility. In terms of cross-chain capital flows, Base, Unichain, and Hyperliquid led with the highest net inflows.

This article aims to review South Korea's cryptocurrency policy in 2024, analyzing its historical evolution, current trends, and future directions. It also examines its global market impact through specific case studies, providing readers with a comprehensive and in-depth perspective on the complexity and significance of South Korea's cryptocurrency policy.

South Korea's cryptocurrency market attracts global attention due to high trading volumes and broad participation. in global cryptocurrency trading volume. Kimchi premium is derived from aggressive buying by domestic investors in a limited market environment. It serves as a meaningful indicator for understanding the Korean market.

“MapleStory Universe” is based on the MapleStory IP. It has more than 180 million users worldwide and is expected to build a community-centered C2E ecosystem that is different from existing web3 games.

Assemble Protocol (ASM) is a blockchain-based platform enabling users to aggregate and spend reward points like a unified currency.

South Korea’s financial system enjoys high trust, which leads to lower enthusiasm for decentralized self-custody and DeFi among users. However, almost no one in South Korea does not know about BTC, and people are more friendly to emerging projects. Due to the FOMO sentiment of investment, value preservation, and wealth creation, South Korea's crypto market remains robust and stands out in the global crypto landscape, especially with the extensive adoption of licensed cryptocurrency exchanges and users.

The SEC's approval of Bitcoin ETFs in the U.S. has started to bring cryptocurrencies into the institutional space, and large public funds with significant capital under management are expected to enter the market.

The declaration of martial law triggered a massive sell-off on local cryptocurrency exchanges. The sell-off totaled approximately $33.3 billion. Bitcoin's price dropped to $62.3K, and the local market briefly recorded the highest trading volume globally.

Gate Research Daily Report (November 13):Bitcoin (BTC) experienced a short-term price correction after reaching new highs, with increased volatility due to profit-taking. This may lead to a period of consolidation in the market. Investors are increasingly optimistic that Bitcoin will break the $100,000 mark by year-end, with strong bullish sentiment evident in the options market. Bitcoin has also surpassed silver to become the 8th largest asset globally by market capitalization. On the Ethereum front, Ethereum Foundation researcher Justin Drake proposed a consensus layer upgrade called Beam Chain, designed to improve scalability and performance. Additionally, the Solana Radar Hackathon revealed its winning projects, highlighting the innovative development within the Solana ecosystem.

Bitcoin’s price dropped 2.84% over the past 24 hours to $70,303, facing potential short-term resistance at $69,500 as bulls and bears contend for control. MicroStrategy announced a significant $42 billion Bitcoin investment plan to expand its reserves. Meanwhile, the U.S. Treasury suggested replacing stablecoins with a central bank digital currency (CBDC) to enhance stability. Canary Capital applied for a Solana spot ETF, joining traditional financial firms in expanding crypto offerings. Additionally, USDT circulation surpassed $120 billion, up 30% since the beginning of the year, reflecting strong demand.

As the cryptocurrency market rebounds, venture capitalists who have been on the sidelines are now investing in the Web3 industry. It is still low compared to past peaks, which can be attributed to 1) negative events such as Terra Luna and FTX bankruptcy, 2) the mega-trend shift from blockchain to artificial intelligence, and 3) macroeconomic deterioration.

Since DeFi's emergence, the quality and security of on-chain data have been paramount concerns for developers, particularly regarding oracles—the critical bridges between on-chain and off-chain data that are often targeted by attackers. This article explores oracle use cases, common attack patterns, and prevention strategies for oracle manipulation. It provides practical guidance for developers on secure oracle integration while explaining their vital role in the blockchain ecosystem. Through analysis of recent incidents like UwU Lend and Banana Gun, we highlight how data reliability fundamentally shapes DeFi ecosystem stability.

The report delves into the characteristics of South Korea’s cryptocurrency community and the trends to watch in 2023. The report notes that communities play a key role in the success of cryptocurrency projects, especially when it comes to decentralized governance. The South Korean market’s high interest in cryptocurrencies, especially compared to stock investments, and the Upbit exchange’s leading position in global trading volume are analyzed. Cryptocurrency community platforms in South Korea, including Telegram, KakaoTalk, Coinpan, DCInside, X (Twitter), Discord, and Naver Cafe, are studied and their characteristics and user behaviors are discussed. In addition, Google Trend data was analyzed to explore the Korean community’s interest in keywords such as Bitcoin, NFT, airdrops, and Ethereum. The report also covers hot topics in the Korean community in different months, as well as information sources and influence analysis of Telegram channels.

Gate Research Daily Report: On June 6, this morning, BTC briefly dropped to around $100,500, while its market dominance climbed to 63.9%, marking a new four-year high. ETH saw a sharp decline, breaking below the midline of the daily Bollinger Bands, with the ETH/BTC ratio falling below 0.024 today. ETH's market dominance has dropped to 9.2%. Altcoins also experienced a broad sell-off, with some tokens falling back to cycle lows. Circle surged 168.48% on its IPO debut, with a trading volume of $3.941 billion. Meanwhile, a clash between Elon Musk and Donald Trump triggered sharp declines across both U.S. equities and the crypto market.

Asia is a complex market with diverse regulations and cultures. Understanding each country's characteristics is crucial for engaging with the Web3 industry. On-chain data shows Asia's Web3 market growth, with metrics like stablecoin usage, developer activity, DEX trading, and Web3 social media engagement.