Bitcoin and Ether record low trading volumes on South Korea’s biggest crypto exchange
A recent report revealed that altcoin trading in the South Korean crypto currency market was high, in contrast to majors like Bitcoin (BTC) and Ether (ETH) where trading activity has declined in comparison. The number of South Korean investors was estimated to reach about six million in the first six months of 2023, a figure accounting for 10 percent of the South Korean population, according to a survey carried out by the Korea Financial Intelligence Unit, as reported by DeSpread Research. Meanwhile, most of these investors use centralized exchanges (CEXes) for their trading activities, which explains the popularity of CEXes as against their decentralized counterparts. In South Korea, there are four major cryptocurrency exchanges — Upbit, Bithumb, Coinone and Korbit — with Upbit being the country’s largest player at 80 percent, while Korbit’s market share is below one percent. You might also like: Upbit receives license from Singapore’s financial r...