Bullish Bitcoin trading in Korea provides tailwinds for Kakao share price

Bullish Bitcoin trading in Korea provides tailwinds for Kakao share price

Analysts in South Korea are predicting a significant share price increase for Kakao amid the current Bitcoin bull market. With crypto trading reportedly reaching feverish proportions in South Korea, internet giant Kakao might be set for an upward share price advance.Quoting comments from analysts Mirae Asset Daewoo — a South Korean brokerage outfit — The Korea Herald has reported that the chat app operator stands to benefit from the ongoing enthusiasm in the Bitcoin (BTC) market. According to Mirae Asset Daewoo analyst Kim Chang-kwon:“Kakao owns about a 23 percent stake directly and....


Related News

Upbit investor stock price surges three-fold amid bullish crypto trading in S...

A minority investor in a major South Korean crypto exchange is currently the best performing stock in the country. The effects of South Korea’s crypto frenzy seem to be spreading beyond the cryptocurrency market to affect stock prices in the country’s stock exchange.According to a report by Bloomberg on Wednesday, Hanwha Investment & Securities Co. has seen its stock price almost triple since the start of the year.Indeed, at the time of writing, Hanwha Investment is trading at 6,550 Korean won per share, which constitutes a 197% stock price gain year-to-date.This almost-200% share price....

Korean Web Giant Kakao Invests in Satoshi Citadel

Satoshi Citadel has raised seed funding from KVG, which is the venture capital arm of Korean web giant Kakao. According to the Bitcoin company, this is a strategic partnership that could bring its “innovative solutions” to Kakao’s 100 millions users. Kakao is Big in South Korea. Kakao is a household name in South Korea, as this web giant has a mobile app....

Kakao to Record Private Securities on Its Own Blockchain as NFTs

The move will aid South Korea's OTC securities market.

South Korea's 'Kimchi premium' is back: Is the Bitcoin rally starting to heat...

Demand for Bitcoin in South Korea is heating up as the country's BTC premium rises over 5%. The "Kimchi premium" is back. Bitcoin (BTC) is trading more than 6% higher across major South Korean crypto exchanges as of March 29.Data from CryptoQuant shows that the premium in the South Korean market was nonexistent for many months and, in fact, dropped to around -6% in early February when BTC dipped below $30,000.The so-called Kimchi premium forms when the price of Bitcoin trades higher on South Korean exchanges than other markets.The return of this premium is a bullish sign suggesting that....

ConsenSys to develop private version of Kakao’s Klaytn blockchain

A private version of Klaytn is in being developed in order to take part in South Korea's CBDC pilot, to be launched later this year. Ethereum software company ConsenSys has formed a technical partnership with Kakao’s Klaytn blockchain, with a view to developing a private platform for the issuance of a South Korean CBDC. Klaytn is a public blockchain developed by Ground X, a blockchain affiliate of the South Korean internet company Kakao. Best known for its Kakao Talk mobile messaging app, Kakao has since branched out into the shopping and travel industries, among others. In 2019 the....