South Korea’s top 5 crypto exchanges recorded a weekly trading volume below KRW 10 trillion after five straight weeks of decline, marking the lowest level in nearly 3 years.
South Korea’s crypto market recorded another week of lower trading activity. The total weekly trading volume of the country’s biggest 5 exchanges dropped for the first time in nearly 3 years, to below KRW 10 trillion. Furthermore, the drop was seen in five consecutive weeks, indicating less market participation.
Why Is South Korea’s Crypto Trading Volume Falling?
Digital Asset said the total trading volume for the week from July 3 to July 10 for the five exchanges—Upbit, Bithumb, Coinone, Korbit and Gopax—was about KRW 9.9676 trillion. As a result, the total volume fell below KRW 10 trillion for the first time since late September 2023.
Top 5 South Korean Exchanges' Volume Falls for Five Straight Weeks, Below KRW 10 Trillion
According to Digital Asset, the weekly trading volume of South Korea’s top five fiat-market crypto exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) has fallen for five consecutive… pic.twitter.com/0iko3rSLNY
— Wu Blockchain (@WuBlockchain) July 11, 2026
The new number is also a significant drop from the previous week. The trading volume dropped 25.75% from the previous week’s KRW 13.4 trillion. This led to a further decline in trading volume on South Korea’s major cryptocurrency exchanges.
Related reading: South Korea Proposes Crypto Seizure Rules.
This has been a downward trend for a few weeks. The total trading volume was approximately KRW 17.7 trillion per week in early June. But it slowly declined to KRW 15.4 trillion, then KRW 14.6 trillion, followed by KRW 13.4 trillion, and finally, this week, below KRW 10 trillion.
The total volume traded has dropped by approximately 43.5% since early June. This gradual decline indicates that the number of traders trading cryptocurrencies is less than a month ago.
Digital Asset said the total weekly trading volume has dropped below KRW 10 trillion for the first time in nearly 2 years and 9 months. The trading volume was about KRW 9.6 trillion during the week ending late September 2023, when a similar level was last recorded.
The top exchanges in South Korea have not been affected by the trading slowdown. But there were some shifts in market shares for each of them.
Which Exchanges Gained or Lost Market Share?
Upbit continued to be the biggest cryptocurrency exchange in South Korea. The platform accounted for 63.02% of the market share in the latest week. However, its market share declined by 3.95 percentage points compared with the previous week.
In the meantime, Bithumb consolidated its market share. The exchange rose by 2.38 percentage points to a 29.51% market share. The rise enabled Bithumb to gain a bigger market share in the overall trading volume despite the less bullish market.
Coinone also reported an increase in market share. Its share increased by 1.46 percentage points to 6.66%. The gain was smaller than Bithumb’s, but it did indicate that Coinone had relatively more trading activity during the week.
At the same time, Korbit accounted for 0.78% of the market, while Gopax held 0.03%. The exchanges were still significantly smaller than the three largest exchanges in the country.
Even with these changes, the overall rankings did not change. Upbit was still the market leader, followed by Bithumb, Coinone, Korbit, and Gopax.
The trading volume has dropped significantly, indicating that many investors are trading less often. A decrease in activity can indicate that investors are waiting for more positive market signals or that they are being cautious about investing. The new data, however, only reflects trading activity and not cryptocurrency price changes.
Overall, South Korea’s crypto market has entered a quieter period after several weeks of falling trading volume. Now, traders will be looking to see if trading volume picks up in the weeks ahead or if it continues to decline as investors remain cautious.
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