South Korea's Top Crypto Exchanges See Daily Trading Volume Plunge 88% Year-Over-Year to 412.7B Won

According to ZDNet Korea, South Korea's five major cryptocurrency exchanges recorded daily trading volume of 412.7 billion won on July 20, down 88% year-over-year. The sharp decline follows a broader cryptocurrency downturn triggered by falling Bitcoin prices. Bitcoin has retreated from its October 2025 peak of $126,000 to trade around $60,000, while global crypto market capitalization dropped 41% to approximately $2.32 trillion.

The downturn has pressured leading Korean exchanges. Dunamu, which operates Upbit, reported first-quarter revenue and operating profit down 55% and 78% year-over-year, respectively. Mid-sized exchange Korbit has been forced to liquidate holdings to maintain operations, recently selling Bitcoin and Ether assets to raise funds.