News & Research

Here is the list of tokens that were most searched for and mentioned in the South Korean crypto community (K-Community) of CoinNess between June 27 and July 3. Top 10 searched tokens - XRP 61,982 - SOL 18,097 - ETH 16,929 - BTC 13,720 - SEI 12,658 - ONDO 9,557 - ARB 5,898 - MOVE 5,707 - BSV 4,127 - STMX 4,089 Top 10 mentioned tokens - BTC 1,263 - ETH 665 - XRP 349 - SOL 277 - TRUMP 144 - SEI 111 - MOODENG 75 - STMX 75 - ADA 50 - APT 44

In a recent update on X, crypto services provider Matrixport reported that crypto retail trading volumes have fallen to their lowest levels of the year. Spot crypto trading in Korea has plunged from $34 billion in December to just $775 million. Binance’s daily volume has also fallen to $5 billion, the lowest since September 2024. Matrixport noted that the figures point to a sharp decline in retail investor activity. With weak buying interest, the market lacks a clear catalyst and many individual investors appear to be sitting out this summer.

China’s Shenzhen government has officially warned the public about illegal financial schemes posing as investments in stablecoins and other crypto assets, according to The Block. Authorities said some groups are taking advantage of the public's rising interest in terms like financial innovation and digital assets to promote fake investment opportunities. These groups use misleading advertising to collect money from the public, which can lead to criminal activities such as illegal fundraising, gambling, fraud, pyramid schemes and money laundering.

BNK Financial Group, a financial holding company based in South Korea, announced on July 7 that its affiliates, BNK Financial Holdings, Busan Bank and Kyongnam Bank, are filing trademark applications related to Korean won-based stablecoins. According to Yonhap News, BNK Financial Holdings has submitted 11 trademark filings, while Busan Bank and Kyongnam Bank have filed 10 and 4, respectively. In addition, Busan Bank and Kyongnam Bank have joined the Open Blockchain & Decentralized Identifier Association (OBDIA), an organization preparing for the issuance of stablecoins supported by banks.

The Blockchain Group, a French blockchain company, announced on X that it has purchased an additional 116 Bitcoin (BTC), worth around €10.7 million ($12.59 million). This brings its total holdings to 1,904 BTC, with a year-to-date (YTD) return of 1,348.8%.

The Russian Energy Ministry is creating a national database of crypto mining equipment to address unauthorized activities and increase tax revenue, according to Cryptonews. The registry will track all mining hardware used across the country.

Tesla CEO Elon Musk indicated that the America Party, a political party he says has formed, is expected to accept Bitcoin. Responding to a question on X about whether the party would embrace the cryptocurrency, Musk replied, “Fiat is hopeless, so yes.”

Robert Kiyosaki, best-selling author of Rich Dad Poor Dad, said he hopes Bitcoin (BTC) crashes so he can buy more, according to U.Today. In a post on X, he criticized “clickbait losers” for warning of a BTC crash to scare off speculators, adding that a price drop would give him the chance to increase his holdings.

A short-form video titled What is a stablecoin has topped the trending list on Douyin, the Chinese version of TikTok, according to Odaily. The video has already garnered 12.125 million views.

Norwegian Block Exchange (NBX), a publicly listed digital asset trading platform, announced it has raised NOK 5.4 million (approximately $535,369) to purchase Bitcoin (BTC). According to JinSe Finance, the company has already acquired six BTC, worth approximately $633,700, and plans to explore using BTC as collateral.