South Korean retail investors are frantically chasing Circle, with its stock price rising by 500%. The legalization of the Korean won stablecoin is imminent.

robot
Abstract generation in progress

On June 27, according to reports, South Korean retail investors are fervently buying Circle, with a net purchase of $450 million this month, making it the most favored overseas stock among the South Korean public. Circle's current price-to-earnings ratio has reached 187 times, far exceeding that of traditional financial technology companies. Since its listing on June 5, Circle's stock price has soared over 500%, and its market capitalization once reached $77 billion.

As the newly elected president Lee Jae-myung accelerates the legalization of the Korean won stablecoin, South Korean fintech giant KakaoPay's stock price has surged by 160%. Meanwhile, the National Assembly of South Korea is reviewing the "Digital Asset Framework Bill," which aims to allow licensed institutions like KakaoPay to issue Korean won stablecoins.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Share
Comment
0/400
SingleForYearsvip
· 06-29 23:28
Retail investors have gone crazy, charging even with such a high price-to-earnings ratio.
View OriginalReply0
CodeAuditQueenvip
· 06-27 07:24
The bubble logic appears again, replicating 2015.
View OriginalReply0
TokenDustCollectorvip
· 06-27 07:19
Suckers army! Suggest to stop urgently.
View OriginalReply0
GateUser-0717ab66vip
· 06-27 07:02
Are the suckers going crazy?
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)