KOSPI Sinks Deeper Than BTC in 29 Days

The South Korean KOSPI index has taken less than 30 trading days to lose more market value than Bitcoin's entire circulating supply, which stands at $1.3 trillion as of today.

This is a staggering turn of events for the country's benchmark stock market, which had reached an all-time high of ₩9,385 on June 19 and has since dropped by 35% to its current value of ₩6,089.

The constituents of the KOSPI index have collectively lost more than $1.3 trillion in less than a month, with their market capitalization declining from ₩7,670 trillion ($5 trillion) on June 19 to today's ₩4,960 trillion ($3.4 trillion).