Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/south-koreas-bithumb-exchange-sees-record-bitcoin-trading-volume/" data-wpel-link="internal">South Korea’s Bithumb Exchange Sees Record Bitcoin Trading Volume</a><br></p>
<p style="text-align: justify">Data indicates that there has been a notable increase in cryptocurrency trading in South Korea recently. The latest analysis by Kaiko shows that despite the zero transaction fee trading being launched only a few months ago, there has been a significant increase in <a href="https://en.coin-turk.com/sleeping-bitcoin-whale-stirs-after-a-decade-implications-for-the-crypto-market/" data-wpel-link="internal">Bitcoin</a> (BTC) trading volume on the Bithumb exchange. During this period, the trading volume of the largest cryptocurrency in the exchange approached $3 billion.</p> 
<h2 style="text-align: justify" id="strong-bithumb-s-bitcoin-trading-volume-hits-record-high-strong"><strong>Bithumb’s Bitcoin Trading Volume Hits Record High</strong></h2> 
<p style="text-align: justify">Bithumb, as the first major South Korean cryptocurrency exchange to eliminate all transaction fees, has made a strategic move. This move is part of an effort to significantly increase its presence in the country’s market, which is largely dominated by Upbit. Before eliminating transaction fees, Bithumb charged its users fees ranging from 0.04% to 0.25%. The zero transaction fee policy for all supported cryptocurrencies was implemented in October of last year.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter  wp-image-305076" src="https://coin-turk.com/wp-content/uploads/2024/01/Kripto-Para-Borsasi-Bitcoin.png" alt="" width="566" height="558"></p> 
<p style="text-align: justify">The decision of the cryptocurrency exchange to forego its primary source of revenue is particularly noteworthy. In addition, Bithumb reported an operating loss of 3.4 billion South Korean won ($2.5 million) in the second quarter of that year. It appears that the platform is prioritizing expanding its customer base over revenue collection, especially in light of consistently decreasing earnings. The new transaction fee policy immediately caught the attention of investors.</p> 
<p style="text-align: justify">Although the crypto exchange managed to increase its market share for a short time, it eventually returned to its pre-policy level. After a slight decline, Upbit’s trading volume recovered, and by the end of the year, the platform was maintaining an 80% market share. However, recent data reveals that Bithumb has made a significant leap over Upbit in terms of Bitcoin trading volume. In January, Bithumb’s Bitcoin trading volume approached $3 billion, while Upbit’s volume remained below $1 billion during the same period.</p> 
<p style="text-align: justify">The recent surge in Bitcoin volume on Bithumb occurred amid strong buying pressure from individual investors in the country, as indicated by the record levels of the South Korea Premium. In fact, Bithumb, along with other leading cryptocurrency exchanges in the country, reached the highest trading volume in the first week of January 2024.</p> 
<h2 style="text-align: justify" id="strong-set-to-go-public-in-2025-strong"><strong>Set to Go Public in 2025</strong></h2> 
<p style="text-align: justify">Bithumb is also preparing for a public offering on South Korea’s equivalent of the Nasdaq in the US, the KOSDAQ, in the second half of 2025. This move will make Bithumb the first publicly traded cryptocurrency exchange in the South Korean market.</p> 
<p style="text-align: justify">Although there has been no official announcement from Bithumb regarding this matter, the selection of <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude">Samsung</a> Securities as a potential underwriter is considered a strong indication of progress towards the public offering process.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/south-koreas-bithumb-exchange-sees-record-bitcoin-trading-volume/" data-wpel-link="internal">South Korea’s Bithumb Exchange Sees Record Bitcoin Trading Volume</a></h5>

South Korea’s Bithumb Exchange Sees Record Bitcoin Trading Volume

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