The average daily trading volume of the five major trading platforms in South Korea, Upbit, Bithumb, Coinone, Korbit, and Gopax, decreased from $2.82 billion to $305 million, a decrease of about 89%. ZDNet Korea reported that as of July 20th, the daily trading volume of the five major trading platforms decreased by about 88% year-on-year. The South Korean Composite Stock Index (KOSPI) has risen by about 114% over the past year, attracting retail investors to invest. Korbit sold 15 BTC and 60 ETH, raising approximately 1.6 billion Korean won (about 1 million US dollars). Tiger Research believes that the South Korean cryptocurrency market is undergoing a structural transformation, with a decrease in retail participation and institutional funds investing in Korean won stablecoins, real-world asset (RWA) tokenization, and trading platforms.
