South Korea’s unique and amazing crypto universe
Cointelegraph
Published Nov 29, 2022 09:45AM ET
Updated Nov 29, 2022 10:00AM ET
Maybe its the language barrier, or the walls authorities have set up to prevent money from leaving the country. But whatever it is, South Korea has built its own unique corner of the cryptoverse thats unlike anywhere else on the planet.
Doo Wan Nam, a MakerDAO delegate who co-founded the research and advisory firm StableNode, laughs as he describes how crazy the intense speculation and crypto gambling can get in South Korea. He says its a country where the price of stablecoins like Dai or USD Coin can sometimes trade sky-high because if the price starts to rise a little above the $1 peg for some reason, speculators will jump in on the momentum trade.
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Written By: Cointelegraph
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