Bitcoin

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bithumbs-bitcoin-trading-volume-soars-amid-fee-elimination" rel="noopener noreferrer nofollow">Bithumb’s Bitcoin Trading Volume Soars Amid Fee Elimination</a> 
South Korea has seen a significant rise in cryptocurrency trading, with Bithumb exchange experiencing a notable increase in <a href="https://en.bitcoinhaber.net/analysis-of-bitcoin-movements-and-fibonacci-cycles-mid-stages-in-the-crypto-market" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) trading volume despite the recent implementation of zero transaction fees. The surge has brought the exchange’s BTC volume close to $3 billion, highlighting the impact of its strategic move to eliminate all trading fees, a first among major South Korean crypto exchanges.
Bithumb’s decision to forego its primary source of revenue, especially after reporting an operational loss of 3.4 billion South Korean won ($2.5 million) in the second quarter, indicates a shift in focus towards expanding its customer base rather than immediate revenue generation. This move quickly attracted investors’ attention.
Although Bithumb temporarily increased its market share, it eventually returned to pre-policy levels, with Upbit recovering and maintaining an 80% market share by year-end. However, recent data shows Bithumb’s Bitcoin trading volume surpassing Upbit significantly, nearing $3 billion in January, while Upbit’s volume remained below $1 billion.
The spike in Bithumb’s Bitcoin volume coincides with strong buying pressure from individual investors in South Korea, as evidenced by the record levels of the Korean Premium. Bithumb, along with other leading exchanges in the country, reached its highest trading volume in the first week of January 2024.
Furthermore, Bithumb is preparing for an initial public offering (IPO) on South Korea’s KOSDAQ, a Nasdaq equivalent, in the second half of 2025. This move will make Bithumb the first publicly traded crypto exchange in the South Korean market. While no official announcement has been made, the selection of Samsung Securities as a potential underwriter suggests significant progress towards the IPO.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/bithumbs-bitcoin-trading-volume-soars-amid-fee-elimination" rel="noopener noreferrer nofollow">Bithumb’s Bitcoin Trading Volume Soars Amid Fee Elimination</a></h5>

Bithumb’s Bitcoin Trading Volume Soars Amid Fee Elimination

BH NEWS

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