South Korea's Crypto Trading Volume Drops by Nearly 55% in H1

South Korea's crypto trading volume has seen a significant decline in the first half of 2026, plummeting by nearly 55% year-over-year. According to NexBlock, the five major won-based exchanges - Upbit, Bithumb, Coinone, Korbit, and Gopax - generated approximately $366.58 billion in combined trading volume during the first six months of the year.

This represents a substantial drop from the corresponding period in 2025, indicating weaker activity across South Korea's retail crypto market. Notably, Upbit processed about 11.69 trillion won during the July period, with its trading volume falling by 10%. However, its market share increased from 62.3% to 67.4%, widening the gap between Upbit and Bithumb.

The figures suggest that liquidity is becoming increasingly concentrated on larger platforms, making it challenging for smaller exchanges like Coinone, Korbit, and Gopax to compete. To remain viable, these platforms are exploring partnerships with securities firms, institutional services, and internal restructuring.