South Korea's major KRW crypto exchanges Q2 spot trading volume declines quarter on quarter 33%
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AT A GLANCE
Spot trading volume at South Korea's major KRW exchanges was approximately in the second quarter 146700000000 USD, down quarter on quarter by 33%。
Article
Data: South Korea 5 Major crypto exchanges face competitive pressure as spot trading volume Q2 declines quarter on quarter 33%
PANews October 14 According to news reports cited by South Korean media outlet Daum, South Korea's major KRW exchanges—Upbit, Bithumb, Coinone, Digital X (formerly Korbit), and GOPAX's spot trading volume fell from approximately in the first quarter 218800000000 USD to approximately in the second quarter 146700000000 USD, a quarter-on-quarter decrease of 33%. During the same period, spot trading volume at the world's top centralized exchanges declined quarter on quarter 27.9%to 1950000000000 USD, a smaller decline than in the South Korean market. Analysts believe that, due to South Korean regulatory restrictions, domestic exchanges remain focused on spot trading and cannot offer cryptocurrency derivatives services, while overseas trading platforms continue to expand their business scope.
PANews, citing South Korean media outlet Daum, reported that South Korea's major KRW exchanges include Upbit, Bithumb, Coinone, Digital X (formerly Korbit), and GOPAX。
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Spot trading volume across the exchanges fell from approximately in the first quarter 218800000000 USD to approximately in the second quarter 146700000000 USD, a quarter-on-quarter decrease of 33%。
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During the same period, spot trading volume at the world's top centralized exchanges declined quarter on quarter 27.9%, to 1950000000000 USD。
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The analysis cited in the report believes that South Korean domestic exchanges remain focused on spot trading and cannot offer cryptocurrency derivatives services, while overseas trading platforms continue to expand their business scope.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The South Korean crypto exchanges that primarily trade in KRW completed approximately one-third less in spot buy-and-sell transactions in the second quarter than in the first quarter. The world's top centralized exchanges also declined during the same period, but by less than these South Korean exchanges. The article also relays an analysis linking the business scope of South Korean platforms to local regulatory restrictions.
Why it matters to readers
The decline in trading volume indicates reduced spot trading activity at these South Korean exchanges, and the decrease was larger than at the global major centralized exchanges compared in the article. The specific impact of regulatory restrictions and competitive pressure requires further evidence.
Beginners can understand spot trading volume as the total value of directly buying and selling crypto assets on a platform over a period of time; it can reflect trading activity, but does not by itself represent a platform's revenue, security, or future performance.
Risks and unknowns
The article does not specify the original statistical institution, calculation methodology, or coverage of the trading-volume data.
The title's claim that the exchanges “face competitive pressure” lacks directly verifiable data, such as market share, on the degree of competition.
Whether regulatory restrictions caused the larger decline in South Korean trading volume is presented only as an analytical view and does not establish causality.
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The article does not provide trading-volume data for each South Korean exchange individually.
The article does not specify which exchanges comprise the world's top centralized exchanges.
Related concepts
Spot Trading
A trading method in which one asset is directly exchanged for another at current market prices.
