Weekly trading volume across South Korea’s five largest won-based cryptocurrency exchanges fell to about KRW 9.9676 trillion during the July 3-10 reporting period, dropping below the KRW 10 trillion mark. Data cited from Digital Asset showed the figure was down 25.75% from the previous week’s KRW 13.4 trillion, extending the market’s decline to a fifth straight week.
The move also pushed activity to its lowest level in a long stretch. The report said this was the first time weekly trading volume had fallen below KRW 10 trillion since late September 2023.
Weekly turnover has fallen steadily since early June
The downtrend began in early June. Combined weekly volume across the five exchanges stood at KRW 17.7 trillion for June 5-12, then slipped to KRW 15.4 trillion, KRW 14.6 trillion, and KRW 13.4 trillion before reaching the latest KRW 9.9676 trillion.
Compared with the level recorded in early June, total weekly volume has now dropped by about 43.5%. The dataset covers Upbit, Bithumb, Coinone, Korbit, and Gopax, showing a broad cooling in trading activity across South Korea’s leading won-denominated crypto venues over the past five weeks.
Upbit stayed on top as market share shifted
Even with overall trading weakening, market share moved between exchanges while the ranking order stayed the same. Upbit remained the largest platform with a 63.02% share, though that was down 3.95 percentage points from the previous week.
Bithumb increased its share to 29.51%, up 2.38 percentage points, while Coinone rose to 6.66%, gaining 1.46 percentage points. Korbit accounted for 0.78% of the market and Gopax held 0.03%. The latest figures show shrinking aggregate trading volume, even as share distribution among the top exchanges continued to adjust.