South Korea turns into Ethereum’s powerhouse

South Korea, the world’s second largest Ethereum swap market, is rapidly becoming the powerhouse of Ethereum with a growing number of domestic projects and communities.

Unsurprisingly South Korea, 21 Outperformed China in total Bitcoin trading volume in September.

The largest Ethereum meeting in history earlier this week; Held in Seoul with Casper, Plasma and OmiseGo representatives and speakers. Influencers from the industry such as Ethereum co-founder Vitalik Buterin, Ethereum Foundation researcher Karl Floersch and OmiseGo Managing Director Vansa Chatikavanj attended the event.. 800 people attended the meeting.

South Korea’s ban on domestic ICOs is a minimal factor

The South Korean government announced its ban plan for ICOs on September 29. As the ICO industry is a major market for Ethereum, many investors panicked and sold their Ether, eventually dropping the Ether price by more than 8 percent.

However, Ethereum price quickly recovered after this drop.

Speculative investors

The majority of investors in the South Korean Ethereum market are speculative investors… Therefore, they are heavily influenced by movements that may cause a drop in Ethereum price.. A large number of investors are a technology and infrastructure supporter for Ethereum’s decentralized applications.

Currently, Ethereum’s largest market is ICOs.. It is likely that the performance of decentralized applications will evolve in the coming years as an important factor for Ethereum’s market value.

On the other hand, if the support and enthusiasm for Ethereum in South Korea continues in the medium term, South Korea’s Ethereum It is highly likely that it will turn into a powerhouse.

Finally, Buterin, who gave an interview to a South Korean financial publication, made the following sentences about Ethereum:

“Ethereum has many I can say that it is beneficial to the industry. There are applications in finance, identity, supply chain tracking, healthcare, energy and more.. This is the result of Ethereum being deliberately designed as a general purpose programming platform.”

Source: CoinTelegraph

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