Seoul: Trading volume at major South Korean crypto exchanges has shrunk to account for around 1 percent of the corresponding figure for the local stock market, industry data showed Thursday. The daily average trading volume at South Korea's five major virtual asset exchanges from July 1 to Tuesday stood at 597.8 billion won (US$406.5 million).
According to Yonhap News Agency, the five exchanges-Upbit, Bithumb, Coinone, Korbit, and Gopax-collectively saw their trading volumes represent just 1.59 percent of the daily average trading volume on the benchmark KOSPI market, which was 37.6 trillion won during the cited period. This marks a notable decline in the share of trading volume in the crypto market compared to the KOSPI market.
The share of trading volume in the crypto market relative to the KOSPI market has been on a downward trend, shrinking from 11.29 percent in January to approximately 6 percent in March and April, and further to around 2 percent in May. This trend contrasts sharply with November 2024, when crypto trading volume surged to as high as 21 trillion won amid expectations that U.S. President Donald Trump's second administration would introduce crypto-friendly policies.