Kakao Pay files 18 KRW stablecoin trademarks, signaling early moves to dominate South Korea’s evolving digital asset regulatory landscape.
Iran-related geopolitical tensions drive a broad crypto market sell-off, with Bitcoin dipping below $100K amid rising inflation and energy concerns.
Cross-chain capital flows favor Base, Unichain, and Hyperliquid, reflecting investor rotation toward ecosystems with strong growth potential and infrastructure backing.
KAKAO PAY ENTERS KOREAN WON STABLECOIN RACE
South Korea’s payment giant Kakao Pay has filed 18 trademark applications related to KRW stablecoins (e.g., KRWKP, KRWP) with the Korean Intellectual Property Office.
The trademarks span virtual asset trading, electronic transfers, and financial services. This move is widely interpreted as a proactive step in anticipation of Korea’s upcoming “Digital Asset Basic Law,” which will legalize privately issued KRW stablecoins.
Competitors are emerging, with game company Nexthurs also expressing interest in obtaining a first-mover license, signaling intensifying competition in the local stablecoin space.
Analysis
Kakao Pay’s early action highlights a strategic move to dominate the KRW stablecoin infrastructure. Its large user base and integration across Korea’s financial ecosystem position it as a likely leader.
As the regulatory environment opens up, this market could become a key battleground for fintech and Web3 convergence.
IRAN TENSIONS TRIGGER MARKET SELL-OFF
Growing geopolitical tensions surrounding Iran’s threat to block the Strait of Hormuz have sparked risk-off sentiment. Bitcoin briefly dipped below $100,000, a new low for May, while Ethereum and XRP also fell sharply.
The strait is a vital oil route, accounting for ~20% of global oil transport, and any disruption could escalate energy prices and inflation expectations.
Analysis
The sell-off reflects the crypto market’s vulnerability to geopolitical shocks. Despite narratives of Bitcoin as “digital gold,” major tokens still react like high-risk assets.
Rising oil prices and inflation fears could trigger tighter liquidity and broader market stress, especially for speculative assets.
BASE, UNICHAIN & HYPERLIQUID LEAD CROSS-CHAIN FLOWS
On-chain data reveals that in the past week, the top three cross-chain bridge net inflows were:
Base: +$35.92M
Unichain: +$15.04M
Hyperliquid: +$8.75M
In contrast, the largest outflows were seen from Bera (–$58.51M), Avalanche (–$51.44M), and Mantle (–$15.46M).
Analysis
These flows underscore growing investor confidence in select chains. Base benefits from Coinbase’s backing and strong L2 performance.
Unichain’s deep integration with DeFi protocols like Uniswap is driving momentum, while Hyperliquid is gaining traction in the on-chain derivatives sector thanks to its native order-matching and asset model.
Funds are rotating into ecosystems seen as high-growth or underpriced.
〈CoinRank Crypto Digest (6/23)｜Iran Tensions Trigger Market Sell-off〉這篇文章最早發佈於《CoinRank》。
