In the South Korean cryptocurrency market, leadership has shifted to the Bithumb exchange, which processes up to 72% of transactions with digital assets, according to Kaiko data.
Previously, the undisputed leader in the country was the Upbit platform, but analysts have identified its displacement to second place.
The trading volume of Bitcoin reached peak levels in mid-January, accompanied by increased competition between Bithumb and Upbit.
In early February, the Upbit exchange yielded to its competitor in the number of processed operations with BTC and altcoins.
By the end of last month, the trading volume of Bitcoin on Bithumb approached the $3 billion mark, which was a result of transaction fee cancellations and led to user activation.
Bithumb plans to enter the Korean stock market with the placement of shares by the end of 2025, with the investment attractiveness of securities reflected in the KOSDAQ index, analogous to the American Nasdaq 100.
