In December-January, there was a sharp increase in Bitcoin trading volume on South Korean exchanges. The most active operations were carried out on the Bithumb platform, which stopped charging fees for transaction processing a few months ago.

According to information from Kaiko, the trading volume of Bitcoin on Bithumb is approaching three billion dollars. The exchange decided to waive fees for transactions in order to expand its presence in the Korean market.

Until October of this year, Bithumb charged users fees ranging from 0.04% to 0.25%. After the fees were abolished, there was a significant increase in trading volume.

Despite a decrease in Bitcoin trading activity on the leading exchange UpBit, it still remains the leader in South Korea, processing up to 80% of transactions with digital currencies.

At the end of last year, CCData conducted a study that showed that Korean traders prefer to invest in Bitcoin, XRP, Solana, and Chainlink.