South Korea's Crypto Exchange Trading Volume Drops 15.6% in July Despite Bitcoin Rebound

According to Coin Gecko data compiled on July 28, trading volume on South Korea's five major crypto exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) declined 15.6% in July compared to June for the same period (July 1-25 vs June 1-25), with daily average volume dropping from 725.1 billion won to 611.9 billion won.

Despite Bitcoin's 15% rally from early-month lows to over $66,000, domestic retail investor activity remained muted. Analysts attributed the decline to increased institutional trading through U.S. spot Bitcoin ETFs and lower Bitcoin volatility, combined with retail investors shifting attention to the more volatile KOSPI (South Korea's benchmark equity index).