South Korea's top five crypto exchanges report combined weekly trading volume below 10 trillion KRW for first time in ~2.75 years, down 43.5% from early June.
Macro & Markets ·
South Korea's five largest fiat-paired crypto exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—recorded combined weekly trading volume of approximately 9.9676 trillion KRW for July 3–10, marking the first time in roughly 2 years and 9 months that volume has dipped below the 10 trillion KRW threshold. This represents a 25.75% decline from the prior week and a sharper 43.5% drop from early June levels. The slump reflects a fifth consecutive week of declining volume according to Digital Asset data.
The weekly descent, continuing unbroken since early July, signals sustained weakness in South Korean spot trading activity. The June baseline of 17.7 trillion KRW provides the steepest comparison point for the recent contraction, indicating material deterioration over a compressed timeframe rather than seasonal fluctuation.
What remains unclear is whether the slide stems from broader market conditions, regulatory developments, or domestic user migration to other platforms or asset classes. The duration and potential floor of this downtrend have not been specified.