Ethereum Surge and Altcoin Pump: Korean Crypto Traders Drive Market Activity Following Upbit Hack

Following a significant hack at South Korean exchange Upbit, analysts say that the resulting impact on altcoin prices is undeniable. Korean crypto traders are now heavily influencing local altcoin dynamics due to arbitrage bot suspension. This change in trading dynamics has resulted in rapid price surges for certain tokens. While Upbit’s hack triggered this market response, experts have highlighted the significant role of Korean trader activity and its influence on market trends.