Dispread Research: "Number of Domestic Virtual Asset Exchange Listings Surges 33% in Q4"

The number of listings on domestic virtual asset exchanges increased sharply in the fourth quarter. According to a report published by the research organization 'Dispread Research' of the Web3 consulting firm Dispread, the number of quarterly listings and trading volume trends of the top 5 domestic exchanges (Upbit, Bithumb, Coinone, Coinnest, and Gopax) showed a decreasing trend until the third quarter of this year, but increased sharply in the fourth quarter. As of December 12, the total number of listings on the top 5 domestic exchanges in the fourth quarter was about 60, up about 33% from the third quarter (45). The report analyzed that the domestic exchanges actively implemented listing policies due to the global virtual asset market boom triggered by the election of former U.S. President Donald Trump and the increase in domestic virtual asset trading volume. Bithumb recorded the most active listing policy with 26 listings during the fourth quarter, followed by Upbit with 14 and Coinone with 12. More than 85% of the total listings of the top 5 exchanges were made by the top 3 exchanges, suggesting that the concentration of large exchanges in the number of listings is deepening. While Bithumb recorded nearly double the number of listings compared to Upbit, it failed to surpass Upbit's trading volume share. Bithumb's market share temporarily rose to 36% in October, but fell to 25% in November as the virtual asset market entered a boom period, with Upbit maintaining a trading volume share of 62% in October and 73% in November. The report also analyzed that the total trading volume of domestic exchanges increased about 11-fold to an average of about $3.42 billion (about 49.1077 trillion won) per day in early December compared to November, with the postponement of virtual asset income tax until 2027 being one of the main factors behind the surge in trading volume.