The trading volume of South Korean cryptocurrencies has significantly shrunk, and retail funds have turned to the stock market

The average daily trading volume of the five major trading platforms in South Korea, Upbit, Bithumb, Coinone, Korbit, and Gopax, decreased from $2.82 billion to $305 million, a decrease of about 89%. ZDNet Korea reported that as of July 20th, the daily trading volume of the five major trading platforms decreased by about 88% year-on-year. The South Korean Composite Stock Index (KOSPI) has risen by about 114% over the past year, attracting retail investors to invest. Korbit sold 15 BTC and 60 ETH, raising approximately 1.6 billion Korean won (about 1 million US dollars). Tiger Research believes that the South Korean cryptocurrency market is undergoing a structural transformation, with a decrease in retail participation and institutional funds investing in Korean won stablecoins, real-world asset (RWA) tokenization, and trading platforms.