Bithumb accounts for about 25% of South Korea's crypto trading market share, and its marketing spending increased to $138 million last year

According to ChainCatcher, citing Bloomberg, Kaiko data shows that Bithumb currently occupies about a quarter of South Korea's crypto trading volume, up from a single-digit market share in 2023. The company is preparing for an initial public offering (IPO), expected to be listed by the end of 2025. A key factor in its recovery is a significant increase in total marketing expenses, rising from 16 billion won ($11 million) in 2023 to 192 billion won (approximately $138 million) in 2024. According to Kaiko, Bithumb's market share surged from single digits in early 2023 to a peak of 36% after a zero-fee trading promotion in January 2024. Although some of the increase has receded, the exchange continues to maintain around 25% market share.