Bithumb Becomes Most Popular Exchange in South Korea

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According to data from Kaiko, Bithumb has emerged as the top player in the South Korean crypto market, handling up to 72% of digital asset transactions. Previously, Upbit held the leading position, but has now dropped to second place, as analysts have found.

In mid-January, South Korea experienced a peak in Bitcoin trading volume, leading to increased competition between Bithumb and Upbit.

By early February, Upbit had fallen behind its competitor in terms of the number of transactions processed for BTC and other cryptocurrencies.

At the end of last month, Bithumb’s Bitcoin trading volume reached nearly $3 billion, boosted by the elimination of transaction fees.

The platform’s popularity among users has also fueled its plans to enter the Korean stock market by 2025, with expectations of listing on the KOSDAQ index, similar to the American Nasdaq 100.