In the domestic stock market, cryptocurrency-related stocks are showing strength early on the 9th. Lee Jae-myung, the presidential candidate from the Democratic Party of Korea, stated that a won-based stablecoin market should be established, which is interpreted as improving buying sentiment. Additionally, the fact that Bitcoin, the leading cryptocurrency, has recovered to the $100,000 level has also had an impact.
As of 9:35 a.m. on the 9th, Hanwha Investment & Securities stocks are trading at 3,620 won on the KOSDAQ. The stock price rose by 70 won (1.97%) compared to the previous day. Hanwha Investment & Securities is considered a cryptocurrency-related stock as it holds equity in Dunamu, which operates the cryptocurrency exchange Upbit.
Related stocks such as Com2uS Holdings (7.09%) and Woori Technology Investment (5.64%) are also on the rise. Com2uS Holdings holds equity in the cryptocurrency exchange Coinone, while Woori Technology Investment holds equity in Dunamu.
It is interpreted that the stock prices of related companies rose as well, following U.S. President Donald Trump's agreement with the United Kingdom on a trade deal, which caused Bitcoin prices to rise to 144 million won. As of 8:30 a.m. on the 9th, Bitcoin is trading at 144.5 million won on the domestic cryptocurrency exchange Bithumb, up 3.34% from 24 hours ago. This is the first time Bitcoin has surpassed $100,000 since last February.
The comments made by candidate Lee Jae-myung the previous day also influenced the buying pressure. Earlier, candidate Lee Jae-myung from the Democratic Party of Korea stated on the 8th, "We need to create a won-based stablecoin market," and added, "We must quickly enter this market and manage it so that transactions can participate without anxiety." He further noted that related measures are necessary.