South Korea Exchanges Flood Market with Over 1,200 Altcoins

South Korea's five major cryptocurrency exchanges have listed over 1,200 altcoins in the past five years, but more than one-third of them were delisted, putting investors at risk.

Data from Upbit, Bithumb, Coinone, Korbit, and Gopax shows that these exchanges combined listed 1,236 altcoins between 2022 and July this year. During the same period, 430 altcoins were removed.

The delisting-to-listing ratio in the altcoin market is significantly higher than in the KOSDAQ market, which saw 532 companies newly listed and 76 companies delisted over the same period.

Exchanges like Gopax had a particularly high delisting rate of 63.2%, while Upbit's ratio was 19.2%.