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Korea’s Virtual Asset Market Ranks Third in the World, Bithumb Ranks First in Crypto Trading Volume in Korea

– Xangle published ‘Report on Virtual Asset Market in Korea’
– The report evaluates “maturity of crypto exchanges and investors in Korea is enhanced”

December 02, 2020 09:00 AM Eastern Standard Time

SEOUL, South Korea–( BUSINESS WIRE) — Bithumb Korea (Bithumb) is analyzed to be the most vibrant in trading in the virtual asset market in Korea that amounts to hundreds of trillion won in size.

“Maturity of the investment market in Korea is getting enhanced on both sides of crypto exchanges and investors”

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In its recent ‘Report on Virtual Asset Market in Korea,’ Xangle, an information portal for posted data-based virtual assets, estimated that the accumulation of the crypto trading amount of Bithumb during the past 5 months (June 1 ~ October 27, 2020) reached KRW 43.4 trillion. This represents the largest amount among crypto exchanges in Korea. During the same period, the accumulated trading amount of top 4 crypto exchanges in Korea (Bithumb, UPbit, Coinone and Korbit) exceeded KRW 100 trillion.

According to Xangle, the virtual asset market in Korea ranked third among 154 countries. For one year between June 2019 and June 2020, the on-chain transaction volume of virtual assets in Korea reached KRW 250 trillion, ranking third in the world after China and the United States.

Bithumb Korea (Bithumb) ranked first in crypto trading volume in Korea. According to Xangle’s recent ‘Report on Virtual Asset Market in Korea,’ the accumulation of the crypto trading amount of Bithumb during the past 5 months (June 1 ~ October 27, 2020) reached KRW 43.4 trillion. During the same period, the accumulated trading amount of top 4 crypto exchanges in Korea (Bithumb, UPbit, Coinone and Korbit) exceeded KRW 100 trillion. The virtual asset market in Korea ranked third among 154 countries. For one year between June 2019 and June 2020, the on-chain transaction volume of virtual assets in Korea reached KRW 250 trillion, ranking third in the world after China and the United States. (Graphic: Business Wire)
Bithumb Korea (Bithumb) ranked first in crypto trading volume in Korea. According to Xangle’s recent ‘Report on Virtual Asset Market in Korea,’ the accumulation of the crypto trading amount of Bithumb during the past 5 months (June 1 ~ October 27, 2020) reached KRW 43.4 trillion. During the same period, the accumulated trading amount of top 4 crypto exchanges in Korea (Bithumb, UPbit, Coinone and Korbit) exceeded KRW 100 trillion. The virtual asset market in Korea ranked third among 154 countries. For one year between June 2019 and June 2020, the on-chain transaction volume of virtual assets in Korea reached KRW 250 trillion, ranking third in the world after China and the United States. (Graphic: Business Wire)

Meanwhile, large enterprises in Korea are increasingly taking part in virtual asset-related businesses. Eight out of the top 50 KOSPI-listed enterprises in the aggregate value of a stock are apparently involved in virtual asset-related businesses. The report from Xangle stated that over 15 organizations, including banks, securities and information technology companies, are currently running such businesses.

“Maturity of the investment market in Korea is getting enhanced on both sides of crypto exchanges and investors,” said a manager at Xangle. “Leading exchanges in Korea are striving to expand the mature investment market rather than simply focusing on improving their own trading capabilities.”

“We will lead the reorganization of the industry by initiatively adopting the frame of traditional financial institution-grade while concentrating efforts on enacting business rights law so that virtual asset can be recognized as one of financial segments in the long run,” said an executive at Bithumb in an interview.

Contacts

For Bithumb Korea (Bithumb)
Bnli Communications
Jeong Hwan In
Marketing Division, Senior Pro
+82-2-6324-6938
[email protected]


DISCLAIMER: The text of this article is the sole responsibility of its authors. No investment advice is provided. CryptoPress has not used or endorsed the services described.

| CryptoPress

– Xangle published ‘Report on Virtual Asset Market in Korea’
– The report evaluates “maturity of crypto exchanges and investors in Korea is enhanced”

December 02, 2020 09:00 AM Eastern Standard Time

SEOUL, South Korea–( BUSINESS WIRE) — Bithumb Korea (Bithumb) is analyzed to be the most vibrant in trading in the virtual asset market in Korea that amounts to hundreds of trillion won in size.

“Maturity of the investment market in Korea is getting enhanced on both sides of crypto exchanges and investors”

Tweet this

In its recent ‘Report on Virtual Asset Market in Korea,’ Xangle, an information portal for posted data-based virtual assets, estimated that the accumulation of the crypto trading amount of Bithumb during the past 5 months (June 1 ~ October 27, 2020) reached KRW 43.4 trillion. This represents the largest amount among crypto exchanges in Korea. During the same period, the accumulated trading amount of top 4 crypto exchanges in Korea (Bithumb, UPbit, Coinone and Korbit) exceeded KRW 100 trillion.

According to Xangle, the virtual asset market in Korea ranked third among 154 countries. For one year between June 2019 and June 2020, the on-chain transaction volume of virtual assets in Korea reached KRW 250 trillion, ranking third in the world after China and the United States.

Bithumb Korea (Bithumb) ranked first in crypto trading volume in Korea. According to Xangle’s recent ‘Report on Virtual Asset Market in Korea,’ the accumulation of the crypto trading amount of Bithumb during the past 5 months (June 1 ~ October 27, 2020) reached KRW 43.4 trillion. During the same period, the accumulated trading amount of top 4 crypto exchanges in Korea (Bithumb, UPbit, Coinone and Korbit) exceeded KRW 100 trillion. The virtual asset market in Korea ranked third among 154 countries. For one year between June 2019 and June 2020, the on-chain transaction volume of virtual assets in Korea reached KRW 250 trillion, ranking third in the world after China and the United States. (Graphic: Business Wire)
Bithumb Korea (Bithumb) ranked first in crypto trading volume in Korea. According to Xangle’s recent ‘Report on Virtual Asset Market in Korea,’ the accumulation of the crypto trading amount of Bithumb during the past 5 months (June 1 ~ October 27, 2020) reached KRW 43.4 trillion. During the same period, the accumulated trading amount of top 4 crypto exchanges in Korea (Bithumb, UPbit, Coinone and Korbit) exceeded KRW 100 trillion. The virtual asset market in Korea ranked third among 154 countries. For one year between June 2019 and June 2020, the on-chain transaction volume of virtual assets in Korea reached KRW 250 trillion, ranking third in the world after China and the United States. (Graphic: Business Wire)

Meanwhile, large enterprises in Korea are increasingly taking part in virtual asset-related businesses. Eight out of the top 50 KOSPI-listed enterprises in the aggregate value of a stock are apparently involved in virtual asset-related businesses. The report from Xangle stated that over 15 organizations, including banks, securities and information technology companies, are currently running such businesses.

“Maturity of the investment market in Korea is getting enhanced on both sides of crypto exchanges and investors,” said a manager at Xangle. “Leading exchanges in Korea are striving to expand the mature investment market rather than simply focusing on improving their own trading capabilities.”

“We will lead the reorganization of the industry by initiatively adopting the frame of traditional financial institution-grade while concentrating efforts on enacting business rights law so that virtual asset can be recognized as one of financial segments in the long run,” said an executive at Bithumb in an interview.

Contacts

For Bithumb Korea (Bithumb)
Bnli Communications
Jeong Hwan In
Marketing Division, Senior Pro
+82-2-6324-6938
mindplto[email protected]


DISCLAIMER: The text of this article is the sole responsibility of its authors. No investment advice is provided. CryptoPress has not used or endorsed the services described.

© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.

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