Coinone Stake Sale Explored Amid Extreme Fear Market Conditions

VADODARA, January 26, 2026 — South Korean cryptocurrency exchange Coinone, the country's third-largest, is exploring a partial sale of its majority shareholder's stake, according to a report by the Seoul Economic Daily. This latest crypto news emerges as global market sentiment registers extreme fear, with Bitcoin trading at $87,588, down 1.62% in 24 hours. Financial industry sources indicate Chairman Cha Myung-hun is selling a portion of his controlling 53.44% stake, comprising 19.14% personal holdings and 34.30% via The One Group. A Coinone official confirmed discussions with overseas exchanges and domestic financial firms, though details remain undetermined.

Investigation: The Stake Sale Mechanics and Market Implications

According to the Seoul Economic Daily, Chairman Cha Myung-hun holds a 53.44% controlling stake in Coinone. This stake combines his personal 19.14% share with the 34.30% held by his company, The One Group. A Coinone official stated the company is in discussions with overseas exchanges and domestic financial firms about potential equity investments and partnerships. The official emphasized that specific details of any arrangement have not yet been determined. Market structure suggests this move could represent a liquidity grab during a period of extreme fear, similar to strategic shifts seen in past bear markets.

Market Context & Historical Precedent

Historically, major exchange stake sales often precede regulatory tightening or market consolidation phases. Similar to the 2021 correction, when Asian exchanges faced increased scrutiny, this development mirrors patterns where controlling shareholders reduce exposure ahead of potential volatility. In contrast, the current extreme fear sentiment, with a score of 20/100, amplifies the significance of this move. Underlying this trend is a broader shift in South Korea's crypto , where exchanges are seeking capital infusion to comply with evolving regulations and enhance security protocols.

Related developments include South Korean prosecutors investigating a phishing attack on seized Bitcoin, highlighting ongoing security challenges in the region.

Technical Architecture & Price Action

Market structure suggests Bitcoin's current price of $87,588 is testing a critical Fibonacci 0.618 retracement level from its all-time high. On-chain data indicates increased selling pressure from long-term holders, contributing to the extreme fear sentiment. The Relative Strength Index (RSI) on daily charts shows oversold conditions, potentially signaling a short-term bounce. However, volume profile analysis reveals weak buying interest at current levels. A break below the $85,000 support could trigger further downside, aligning with historical patterns where exchange-related news catalyzes price movements.

By The Numbers

Why It Matters

This stake sale matters because it reflects institutional liquidity cycles during extreme fear periods. According to on-chain data, such moves often signal strategic repositioning by major players. The potential involvement of overseas exchanges could introduce new capital flows into South Korea's crypto market. , it may impact retail market structure by altering exchange competitiveness and service offerings. Historical cycles suggest that controlling stake sales in top exchanges frequently correlate with regulatory shifts, as seen with global frameworks like the EU's MiCA regulation.

Expert Commentary

Market analysts note that stake sales during extreme fear environments often precede market bottoms. The Coinone development indicates a search for strategic partnerships to bolster resilience. Similar to past cycles, this could catalyze consolidation in the exchange sector.

Market Outlook & Price Scenarios

Market structure suggests two primary scenarios based on current conditions. First, a bullish reversal if Bitcoin holds above $85,000 and the stake sale attracts institutional capital. Second, a bearish continuation if support breaks and fear sentiment deepens. The 12-month institutional outlook hinges on regulatory clarity and capital inflows, with potential parallels to post-2021 recovery phases.

• Bullish Invalidation Level: $92,000. A break above this resistance confirms trend reversal, supported by increased buying volume and reduced fear sentiment.
• Bearish Invalidation Level: $85,000. A break below this support invalidates the current structure, potentially leading to further declines toward $80,000.

On-chain forensic data confirms that long-term holder behavior will be critical in determining the 5-year horizon. Institutional adoption trends, as tracked by entities like the Federal Reserve, will influence capital allocation decisions.