South Korea Top 5 Exchange H1 Volume Drops 54.6% YoY

Major Korean crypto exchanges saw a 54.6% YoY volume decline in H1, with Upbit capturing 67.4% market share while smaller platforms pursue restructuring.

Woofun AI data shows that the combined trading volume of South Korea's five major won-denominated cryptocurrency exchanges fell by 54.6% year-on-year to approximately $366.58 billion during the first half of the year. From July 1 to 27, cumulative volume for these platforms totaled roughly 17.34 trillion won, representing a 16.9% decrease compared to the previous month.

Upbit recorded trading volume of approximately 11.69 trillion won, increasing its market share from 62.3% to 67.4% despite a 10% volume decline. Conversely, Bithumb's volume dropped to 4.71 trillion won, reducing its share from 30.7% to 27.1% and widening the gap between the two leaders to 40.3 percentage points.

Meanwhile, smaller and medium-sized exchanges are pursuing partnerships with securities firms and operational restructuring to address liquidity challenges.