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

During the first half of this year, it was surveyed that 70%% of the transaction volume 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 affiliated with the National Assembly's Political Affairs Committee, 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 (2021), 1,166 trillion (2022), 934 trillion (2023), and 770 trillion (first half of 2024). In the same period, the transaction volumes of other major 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. Calculating this as a basis, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.