Korea Crypto Volume Drops Amid Market Slowdown

The five major won-based crypto exchanges in South Korea recorded a significant decline in trading volume for the first half of this year. According to NexBlock, the combined volume fell by 54.6% compared to the same period last year.

The total trading volume for the five exchanges - Upbit, Bithumb, Coinone, Korbit, and Gopax - was approximately $366.58 billion. This represents a significant decrease from the previous year's figure.

Upbit emerged as the market leader in July, with its market share increasing to 67.4%. The exchange processed around 11.69 trillion won during the period, despite a 10% decline in trading volume.