Editor's PiCK
We should conduct a Kafuka test
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Summary
- It was reported that 70% of the transaction amount in the domestic virtual asset exchanges during the first half of this year was traded on Upbit.
- Upbit has been recording a market share exceeding 70% since 2021.
- The transaction amount of Upbit in the first half of 2024 is 770 trillion won, showing a significant decrease.
During the first half of this year, it was investigated that 70%% of the total transaction amount in the domestic virtual asset (cryptocurrency) exchanges was traded on 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 found that the total transaction amount of the five major virtual asset exchanges this year was 1,087 trillion won. Among them, Upbit recorded a market share of 70.6%%, with 770 trillion won. Upbit has been recording a market share exceeding 70%% since 2021. Looking at the annual transaction amount 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 amounts of other major 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 as a ratio, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.





