Dunamu, which operates Upbit, the largest virtual asset exchange in Korea, achieved its highest-ever performance last year. The main reason for the performance increase is analyzed to be the combination of the rapid rise in Bitcoin prices, changes in the political and financial environment in the U.S., and the improvement in the overall investment atmosphere.
According to the 2024 business report released by Doonamu on the 27th, annual sales on a consolidated basis were 1.7316 trillion won. This is an increase of approximately 70.5% compared to 1.154 trillion won in 2023. Operating profit for the same year was 1.1863 trillion won, a sharp increase of 85.1% compared to 640.9 billion won in the previous year, exceeding 1 trillion won in operating profit for the first time. Net profit was also tallied at 983.8 billion won, a 22.2% increase from the previous year (805 billion won).
This performance increase is mainly attributed to the increase in virtual asset trading volume in the global market and the resulting increase in transaction fee income. In particular, in November of last year, former President Donald Trump was re-elected as the next president, and expectations for a “pro-virtual asset policy” increased rapidly. The U.S. Federal Reserve’s policy of lowering interest rates also had a positive effect on the market, leading to a global liquidity expansion.
Against this backdrop, the price of Bitcoin soared and broke through $100,000 for the first time ever at the end of the year. As a result, investor sentiment improved significantly, leading to improved performance at virtual asset exchanges. Some in the market believe that the approval of a Bitcoin spot exchange-traded fund (ETF) in the United States last year also played a major role in attracting investors.
Since its establishment in 2012, Dunamu has accumulated technological prowess in various fields such as blockchain, digital assets, securities, and asset management. Recently, in line with the enforcement of the Digital Asset User Protection Act, it has been leading the way in responsible platform operation and is also working to establish a sound market order.
Meanwhile, Doonamu has been included as a corporation subject to external audit as the number of holders of securities exceeds 500, and is regularly disclosing business reports and semi-annual reports. This performance was also disclosed to the public through the Financial Supervisory Service's electronic disclosure system.
