Bithumb accounts for about 25% of the cryptocurrency trading market in South Korea, with marketing expenses increasing to $138 million last year

ChainCatcher news, according to Bloomberg, Kaiko data shows that Bithumb currently accounts for about a quarter of South Korea's crypto trading volume, up from a single-digit market share in 2023.

The company is preparing for an initial public offering (IPO), expected to go public by the end of 2025. A key factor in its recovery is the significant increase in total marketing spending, rising from 16 billion won (11 million USD) in 2023 to 192 billion won (approximately 138 million USD) in 2024.

According to Kaiko, Bithumb's market share soared from single digits at the beginning of 2023 to a peak of 36% after a zero-fee trading promotion in January 2024. Although some of the gains have receded, the exchange consistently holds about 25% of the market share.