A recent report revealed that the South Korean exchange Upbit dominates the local crypto market with over 80%. Additionally, Upbit rose to fifth place in the top five global exchanges list.
Different platforms have unsuccessfully challenged the exchange’s dominance in the country, and the upcoming regulatory framework has affected them.
Upbit Enters The Top-Five Global Crypto Exchange List
News media outlet Bloomberg reported on Upbit’s latest feat after eclipsing the Korean market. The reining Korean exchange holds over 80% of the country’s trading volume.
Upbit, the largest crypto exchange in South Korea, accounts for more than 80% of the trading volume in the country. The exchange has become one of the top five largest exchanges in the world in terms of trading volume, moving closer to Coinbase – BBG pic.twitter.com/f5jzHTBPIP
— NekoZ (@NekozTek) April 25, 2024
Notably, Upbit’s dominance level hasn’t been accomplished by other exchanges on any prominent c
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