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BTC $63,049.97 -1.49%
ETH $1,869.79 -1.14%
BNB $591.04 -0.08%
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SOL $72.98 -1.02%
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DOGE $0.0700 +0.45%
ADA $0.1710 +1.84%
BCH $210.66 -1.19%
LINK $8.18 -1.19%
HYPE $51.85 -6.35%
AAVE $91.10 -7.49%
SUI $0.6844 -0.13%
XLM $0.1713 +0.93%
ZEC $464.29 +1.49%

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Foreign media: The trading volume of South Korea's five major cryptocurrency exchanges in the first half of the year decreased by 54.6% year-on-year, and small and medium-sized exchanges are seeking cooperation and restructuring

According to NexBlock, the trading volume in South Korea's virtual asset market continues to shrink, and the competitive landscape among the five major won exchanges is changing. During this market downturn, funds are further concentrating on platforms with leading liquidity, while small and medium-sized exchanges are seeking breakthroughs through partnerships with securities companies, institutional market layouts, and operational restructuring. In the future, the focus of competition will no longer be solely on trading volume, but also on stablecoin liquidity, traditional financial cooperation, institutional market expansion, and regulatory compliance capabilities.Data shows that in the first half of this year, the five major won exchanges in South Korea (Upbit, Bithumb, Coinone, Korbit, Gopax) had a total trading volume of approximately $366.58 billion, a year-on-year decrease of 54.6%.From July 1 to 27, the five major exchanges had a cumulative trading volume of about 17.34 trillion won, a decrease of 16.9% compared to the same period last month. Among them, Upbit's trading volume was approximately 11.69 trillion won, which, although down 10%, increased its market share from 62.3% to 67.4%; Bithumb's trading volume fell to 4.71 trillion won, with its share dropping from 30.7% to 27.1%, widening the gap between the two to 40.3 percentage points.

hot_img The Korea Exchange examines the technical feasibility of temporarily banning short selling and reducing price limits

According to the Korea Herald, the Korea Exchange conducted an internal review on July 29 regarding the technical feasibility and system requirements for a temporary ban on short selling and narrowing the price limit (currently at 30%) to address the recent severe fluctuations in the stock market. Sources familiar with the matter stated that "only technical feasibility was confirmed," and it was not a prerequisite for implementation, but rather a screening process during the review of available emergency measures.Recently, the South Korean stock market has continued to plummet, causing increasing damage to individual investors. During a meeting of the National Assembly's Administrative Committee, several lawmakers urged authorities to consider a temporary ban on short selling and to restart the Securities Market Stabilization Fund. A national petition to suspend short selling garnered over 10,000 signatures within two days of being made public. However, the ban on short selling conflicts with South Korea's goal of being included in the MSCI developed market index; a previous 17-month short selling ban from November 2023 to March 2025 had led to MSCI downgrading South Korea's market accessibility rating. The exchange's officials stated that they have not received any related requests from the government and have not formally discussed a short selling ban.
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