South Korea Crypto Trading Volume Plummets 88 Percent

Daily trading volume on the five largest won based cryptocurrency exchanges in South Korea has dropped by 88 percent compared to last year. As of July 20, the combined daily volume sits at roughly 412.7 billion won, which is about 280 million dollars. This sharp decline marks a cooling period for one of the most active crypto markets in the world.

The decrease in activity is hitting exchange balance sheets hard. Dunamu, the company that runs the popular Upbit exchange, reported that its first quarter revenue fell by 55 percent. Even more dramatic, their operating profit dropped by 78 percent during the same period. Other firms are feeling the heat as well, with smaller exchanges like Korbit taking steps to adjust to the lower revenue environment.

Analysts are watching to see if this slowdown reflects a broader global cooling or specific local pressure. Investors should monitor how these exchanges manage their operating costs while waiting for a potential rebound in market participation. For now, the significant drop in volume highlights a cautious mood among South Korean traders.