In response to the recent uptick in the valuation of digital assets such as Bitcoin and Ethereum, a corresponding escalation in the prices of associated stocks unfolded within the South Korean stock market on Friday.
Time | Asset | Stock/Price (Kosdaq) | Percentage Change |
---|---|---|---|
9:15 AM, Friday | Woori Technology Investment | 5,300 won | +7.51% |
9:15 AM, Friday | Wizit Co. | 950 won | +3.26% |
Cryptocurrency | Price (USD) | Percentage Change (24h) | Key Events |
---|---|---|---|
Bitcoin | $36,668 | +2.86% | Surpassed $37,000; Reverted to pre-TerraUSD failure levels |
Ethereum | $2,125 | +12.69% | BlackRock files for Ethereum ETF with SEC |
During the morning trade on the secondary Kosdaq market, Woori Technology Investment Co. exhibited a trading value of 5,300 won at 9:15 am, marking a 7.51 percent increase from the previous trading day. Simultaneously, Wizit Co. recorded a value of 950 won, reflecting a 3.26 percent uptrend.
Woori Technology Investment, classified as a crypto stock owing to its investment in Dunamu Inc., the operator of the virtual currency exchange Upbit, contributed to the surge. Similarly, Wizit is recognized as a stock associated with the cryptocurrency exchange Bithumb.
In parallel, Bitcoin was observed trading at $36,668 around the same period, denoting a 2.86 percent rise from the preceding 24 hours, as reported by the crypto data tracker CoinMarketCap. The price briefly surpassed the $37,000 threshold earlier in the day, reverting to levels witnessed prior to the destabilization caused by the failure of stablecoin TerraUSD (UST) in 2022, which triggered a cascading effect in the cryptocurrency market.
Furthermore, the announcement of BlackRock Inc., one of the world’s largest asset managers, filing for approval of an Ethereum spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on Thursday local time, had a notable impact.
Consequently, the price of Ethereum surged to $2,125, reflecting a substantial 12.69 percent increase from the previous 24 hours. Both Bitcoin and Ethereum, as the foremost digital assets by market capitalization, are currently experiencing a surge in value as market participants await the SEC’s decision on the approval of a spot ETF.