Ranking
Categories
Historical Snapshots
Token unlocks
Yield
Trending
Upcoming
Recently Added
Gainers & Losers
Most Visited
Community Sentiment
Chain Ranking
Market Overview
CoinMarketCap 100 Index
Fear and Greed Index
Altcoin Season Index
Bitcoin Dominance
Crypto ETFs
Overall NFT Stats
Upcoming Sales
New Pairs
Trending Pairs
Meme Explorer
Gainers & Losers
Community Votes
Top Traders
Spot
Derivatives
Spot
Derivatives
Feeds
Topics
Lives
Articles
Converter
Newsletter
CMC Labs
Telegram Bot
Advertise
Crypto API
Site Widgets
Airdrops
Diamond Rewards
Learn & Earn
ICO Calendar
Events Calendar
Academy
Research
Videos
Glossary
- Korean crypto exchanges saw a sharp decline in trading volume.
- Bitcoin Kimchi Premium plummeted, indicating cooling demand.
- Bithumb retained market share despite the overall downturn.
Kaiko’s research data reveals that the average daily trading volume on the Upbit crypto exchange fell by $860 million in June, a 76% decrease compared to its Q1 value. Bithumb also saw a 70% decline in trading volumes, with both exchanges reflecting the subdued mood of the Korean cryptocurrency market.
In comparison to crypto exchanges from other jurisdictions, Coinbase’s average daily trading volume dropped by 40%. Bullish reported a 38% decline, while Bybit experienced a modest 8% drop in average daily trading volume over the period under consideration.
Analysts attribute the significant decline in trading volume among Korea-based crypto exchanges to potential regulatory adjustments. The Korean government recently implemented the Virtual Asset User Protection Act, raising concerns among crypto users who suspect a potential mass delisting could be imminent.
Notably, the Bitcoin Kimchi Premium, which represents the price difference between BTC in Korean and global m…
The post Bitcoin Kimchi Premium Collapses as Korean Crypto Market Cools appeared first on Coin Edition.