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

During the first half of this year, it was surveyed that 70%% of the transaction volume in domestic virtual asset (cryptocurrency) exchanges was conducted 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 Exchange Transactions' submitted by the Financial Supervisory Service, and found that the transaction volume of virtual asset exchanges in the first half of this year was 1,087 trillion won. Among them, Upbit accounted for 770 trillion won, recording a market share of 70.6%% of the total. Upbit has been recording a market share exceeding 70%% continuously since 2021. Looking at the annual transaction volume 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) for each period. In the same period, the transaction volumes of other exchanges were △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, etc. Calculating this as a basis, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.