On December 12th, according to BlockBeats citing Coingecko data, Upbit's spot trading volume in November was $64 billion, second only to Kraken among major CEXs. Compared to other major CEXs, its trading volume is nearly one-tenth of Binance's and approximately 66% of Coinbase's.
Furthermore, according to data from DianDian and Similarweb, Upbit App had 226,000 downloads and 8.21 million page views in November, ranking at the bottom of mainstream CEXs.
It's worth noting that the decline in South Korean users' enthusiasm for crypto speculation due to the Crypto Winter was the main reason for Upbit's poor November data. However, for Upbit, which is about to go public in the US, its investment value can still be seen from the above data comparison.
In an article published yesterday, BlockBeats, titled " Exclusive | In-depth analysis of Upbit's US IPO: South Korea's largest crypto exchange is more profitable than Coinbase, but its valuation is only 1/7 ", pointed out that Upbit's parent company, Dunamu, will go public on the US stock market with a current valuation of $10.3 billion.
