South Korea Crypto Trading Volume Plummets 19.56% in One Week

South Korea's crypto trading volume plummeted by 19.56% in the past week, with a combined trading volume of 20.5 trillion won ($15.1 billion) across the country's five major exchanges.

This decline follows an uneven year for South Korean crypto trading, with volumes experiencing sharp increases during periods of strong market activity.

According to Digital Asset, Upbit retained its position as the largest platform, with a 64.04% share of trading, 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% during the week, the outlet reported.

The latest figures come days after the Korea Financial Intelligence Unit (KoFIU) released its first-half review of South Korea's virtual asset market, which showed a 44% decline in average daily exchange volume and a 41% fall in exchange revenue during the six-month period.