[Topic] Lost $10 Million? What Kind of Crypto Investors Are Around You?
Despite a slight pullback over the past two days, $Circle Internet Corp.(CRCL)$ has still delivered a staggering 270% YTD return in just four days since its listing.
$Circle Internet Corp.(CRCL)$’s options just go live! With high IVs, would you go short or long with options?
The Stablecoin Act, introduced during Trump’s presidency, has undoubtedly provided renewed momentum for crypto expansion. Just last week, Lee Jae-myung's successful election win has led to rapid fulfillment of his campaign promises, including allowing the domestic issuance of stablecoins. His party is now pushing forward a new crypto regulation bill.
According to Bloomberg, the Digital Asset Basic Act was introduced on Tuesday. The bill aims to increase transparency and promote competition within the crypto industry. Beyond launching a local currency-backed stablecoin, Lee also advocates for the Korean National Pension Fund to invest in $CME Bitcoin - main 2506(BTCmain)$ and other digital assets, and promises to legalize Bitcoin ETFs in Korea.
Over one-third of South Koreans are reportedly involved in crypto trading! But not everyone’s making money.
According to the Bank of Korea, stablecoin transaction volumes have soared, with trading involving top USD stablecoins on five major Korean exchanges totaling 57 trillion KRW (~$42 billion) in Q1 alone. That’s around 18 million Koreans — more than a third of the population — participating in the crypto market.
“Jeon Ji-hyun’s husband lost 15 billion KRW (~$11.1 million) trading crypto” trended last week.
Choi Jun-hyuk, CEO of Alpha Asset Management and husband of actress Jun Ji-hyun, had invested in Wemix, a token issued by Wemade. With the delisting of Wemix now effectively confirmed, the firm is facing estimated mark-to-market losses of around 15 billion KRW based on recent prices.
According to Maeil Business News, Wemix suffered a major hack in February this year, leading to a 9 billion KRW loss. However, Wemade delayed disclosure for four days, prompting several Korean exchanges to suspend trading of the token.
The news has reminded many of the infamous collapse of LUNA in 2022. The token’s overnight crash left many South Korean retail investors devastated — some even reportedly threatened suicide. Do Kwon, once dubbed the “Elon Musk of Korea,” ended up with an arrest warrant issued by a Korean court.
Today, investors are sharply divided over stablecoins. Some see them as the future of finance, while others dismiss them as overly aggressive and unsafe.
Is Circle a smart play on the stablecoin trend?
While newly listed crypto stocks often rally at first, pullbacks are common. Some even speculate whether Circle could drop to $20.
What do you think of the crypto mania in South Korea?
How can investors strike a balance between bold speculation and responsible investing?
REWARDS
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In South Korea, crypto mania thrives due to high retail participation and a tech-savvy population, driving liquidity but also speculative bubbles and market manipulation. The "kimchi premium" on local exchanges highlights the speculative nature of the market.
To balance speculation and responsibility, investors should allocate a small percentage of their portfolio to crypto, diversify with traditional investments, stay informed about underlying fundamentals, and establish clear entry and exit strategies. This approach captures crypto trends' potential while managing risks effectively.
Circle's hallmark of building trust through regulatory compliance has pivoted USDC to command 24% of the total stablecoin market.
I believe that as global payments, cross border remittance grow, so too will Circle's core business.
However it is important to strike a good balance between rewards and risks. This can be done by position sizing any speculative trade to no more than 5% of my total portfolio. I would also diversify my portfolio to minimise my risks.
There is a valuable lesson to be learnt from South Korea's feverish crypto trades and that is while it is exciting to chase outsized gains, it is equally important not to lose sight of capital preservation.
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