Coin

<ul class="news-points">
 <li>Upbit is the top exchange in South Korea, with an 82% market share.</li>
 <li>Bithumb and Korbit debuted zero-fee campaigns in 2023.</li>
 <li>Volume on Bithumb surged, but the firm reported a 60% decline in revenue in 2023.</li>
</ul>
Crypto exchanges in South Korea are engaged in a fee war, according to a report from Kaiko Research, as the major platforms operating in the country seek to gain an upper hand.&nbsp;
Kaiko<a href="https://research.kaiko.com/insights/crypto-fee-war-heats-up-in-south-korea" target="_blank" rel="noopener noreferrer nofollow"> stated</a> in the report that the leading exchange in the South Korean market since 2021 has been Upbit, with an average market share of 82% over the past three years. However, the report confirmed that the competition has increased following the recent surge in the price of digital assets.&nbsp;The increased competition was the result of Bithumb and Korbit, two regulated South Korean crypto exchanges, debuting<a href="https://coinedition.com/bithumbs-no-fee-promotion-responsible-for-btc-volume-spike-in-south-korea-analyst/" rel="noopener noreferrer nofollow"> zero fee</a> campaigns in 2023, attracting investors in the country. The report further revealed:
<blockquote class="wp-block-quote">
 While Korbit’s market share did not significantly increase, averaging less than 1% in 2024, Bithumb’s market share tripled in the months following the introduction of its zero-fee policy in October 2023.
</blockquote>
Although trading volume surged on Bithumb, the digital asset trading pl…
The post <a href="https://coinedition.com/south-korean-crypto-exchanges-witness-increased-competition-amid-fee-war/" rel="noopener noreferrer nofollow">South Korean Crypto Exchanges Witness Increased Competition Amid Fee War</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

South Korean Crypto Exchanges Witness Increased Competition Amid Fee War

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