Upbit, 70% Share in First Half of Virtual Asset Transaction Volume

In the first half of this year, it was found that 70%% of the transaction volume in the domestic virtual asset (cryptocurrency) exchanges was traded through Upbit. According to the industry on the 2nd, Kim Hyun-jung, a member of the Democratic Party of Korea, analyzed the 'Current Status of Virtual Asset Exchanges' submitted by the Financial Supervisory Service, and the total transaction volume of the five major virtual asset exchanges this year was calculated to be 1,087 trillion won. Among them, Upbit recorded a transaction volume of 770 trillion won, accounting for 70.6%% of the total. Upbit has consistently recorded a market share exceeding 70%% since 2021. Looking at the annual transaction volumes of virtual asset exchanges from 2021 to the first half of 2024, Upbit recorded 3,557 trillion won (2021), 1,166 trillion won (2022), 934 trillion won (2023), and 770 trillion won (first half of 2024). In the same period, the transaction volumes of other exchanges were as follows: Bithumb 795 trillion, 258 trillion, 196 trillion, 280 trillion; Coinone 203 trillion, 59 trillion, 24 trillion, 21 trillion; Korbit 19 trillion, 4 trillion, 5 trillion, 10 trillion; Gopax 21 trillion, 1 trillion, 2 trillion, 6 trillion. Calculating this, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.