Weekly trading volume across South Korea's five largest crypto exchanges fell to about KRW 9.97 trillion, down 25.75% week over week. The decline marked the fifth consecutive weekly drop, wit
Trading activity across South Korea's five largest won-based cryptocurrency exchanges fell below KRW 10 trillion during the week of July 3-10. According to Digital Asset, weekly volume declined for a fifth straight week to about KRW 9.97 trillion, marking the first drop below that level in about two years and nine months.
According to Digital Asset, combined trading volume across Upbit, Bithumb, Coinone, Korbit, and Gopax reached approximately KRW 9.9676 trillion. That represented a 25.75% decline from the previous week's KRW 13.4 trillion.
The latest figures also extended a steady decline that began in early June. Weekly trading volume measured KRW 17.7 trillion during June 5-12 before falling each following week.
Trading then dropped to KRW 15.4 trillion, followed by KRW 14.6 trillion and KRW 13.4 trillion. Compared with early June, total weekly volume has now declined by about 43.5%.
According to Digital Asset, this marks the first time weekly trading volume has fallen below KRW 10 trillion since late September 2023.
While overall trading activity weakened, several exchanges gained market share during the latest reporting period. However, the rankings among the five exchanges remained unchanged. Upbit retained the largest share of the market at 63.02%.
However, its share declined by 3.95 percentage points from the previous week. Meanwhile, Bithumb increased its market share by 2.38 percentage points to 29.51%. Coinone also expanded its share by 1.46 percentage points, reaching 6.66%.
Korbit accounted for 0.78% of the total market during the reporting period. Meanwhile, Gopax recorded a market share of 0.03%, according to Digital Asset.
Although market shares shifted among individual exchanges, none changed their overall positions in the rankings. Upbit remained first, followed by Bithumb, Coinone, Korbit, and Gopax.
According to the reported data, the broader trend continued to reflect declining trading activity across South Korea's leading won-denominated cryptocurrency exchanges during the latest five-week period.
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