Upbit Dominates Korean Crypto Exchange Market With a Market Share of 80%: Research

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By BitcoinWiki News

Key Takeaways:

– Upbit is the dominant player in South Korea’s crypto exchange market with a market share of 80%.
– Other major exchanges in South Korea, such as Bithumb, Coinone, and Korbit, have smaller market shares.
– Bithumb is the second-largest player with a market share of 15-20%.
– Coinone holds a market share of 3-5%, while Korbit has less than 1%.
– Korean exchanges saw a surge in trading volume after positive news related to Ripple.
– A court ruling in favor of Ripple led to an 80% increase in XRP prices and a 37% monthly increase in trading volume on Korean exchanges.
– Despite a decreasing trend in trading volume across centralized exchanges, Korean exchanges have managed to increase their market share and trading volume.
– Korean exchanges consistently have higher volumes than Binance and Coinbase.
– The market share of Korean exchanges relative to Binance has seen a notable increase over the year.
– Some senior public officials in South Korea’s Gyeonggi province have recently declared their cryptocurrency holdings.


Upbit is the dominant player in South Korea’s crypto exchange market, holding a market share of 80%. Other major exchanges in the country, such as Bithumb, Coinone, and Korbit, also have a presence but with smaller market shares. Korean exchanges experienced increased trading volume following positive news related to Ripple. Despite a decreasing trend in trading volume across global exchanges, Korean exchanges have managed to increase their market share and trading volume. Their trading volumes consistently surpassed those of Binance and Coinbase, indicating their significant presence in the global landscape. The market share of Korean exchanges relative to Binance has been steadily increasing throughout the year.

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