South Korea Crypto Trading Volume Drops 20% in One Week

South Korea's major crypto exchanges saw a 20% drop in trading volume last week, according to a recent report. The five major exchanges combined for a trading volume of 20.5 trillion won, or $15.1 billion, from September 25 to October 2, down 19.56% from the previous week.

The largest exchange, Upbit, maintained its top spot with a 64.04% share, although its market share fell by 3.3 percentage points from the previous week. Bithumb's share rose to 26.66%, while Coinone increased its share to 6.58%.

The decline in trading volume follows a year of uneven activity for South Korean crypto exchanges. During periods of stronger market activity, volumes have climbed sharply. However, the latest weekly fall comes days after the Korea Financial Intelligence Unit released its first-half review of South Korea's virtual asset market.