South Korea’s virtual asset trading volume has surged and now accounts for 9.05% of the global total

According to Korean media Pulse, citing CryptoQuant data, in November 2024, the total monthly trading volume of the top five CEXs in Korea - Upbit, Bithumb, Coinone, Korbit, and GOPAX - was around 16.17 trillion won (USD 115 billion). This figure includes the total trading volume of stablecoins such as Tether (USDT) and USDC issued by Circle, and is also about 7 times higher than the approximately 2 trillion won recorded at the beginning of the year. This is also the first time that the monthly stablecoin trading volume in Korea has exceeded 10 trillion won. Furthermore, as of Monday, the 24-hour trading volume of the virtual asset market in Korea was 23 trillion won, accounting for 9.05% of the global total of 262 trillion won.