South Korean President Yoon Suk Yeol has lifted a declaration of martial law made earlier, which lasted about six hours. This decision came after significant tensions during a Cabinet meeting and a request from the National Assembly. The emergency declaration had been initiated in response to perceived threats from North Korea and aimed to ensure public safety. Following the reversal, the cryptocurrency market began to recover after a noticeable drop due to the martial law announcement. Bitcoin, Ether, and XRP prices rebounded, showing gains of 2.4%, 3.3%, and 9.2%, respectively. The White House expressed relief over the situation, emphasizing the importance of respecting democratic processes. On the day preceding the martial law declaration, South Korean retail crypto trading volumes surged, with XRP leading the volumes at over $6.3 billion. Other notable cryptocurrencies traded included Dogecoin and Stellar, indicating high market activity before the volatility sparked by the emergency measures.

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