Odaily Planet Daily News: In the South Korean virtual asset exchange market, Upbit's dominance, which had long been predominant, showed some relief in the fourth quarter of 2025, with Bithumb's market share relatively increasing. According to CoinGecko data, the total trading volume of the top five Korean won exchanges in South Korea in the fourth quarter of 2025 was approximately $277.9 billion, of which Upbit's trading volume was about $180.7 billion, accounting for 65.0%, a decrease from the nearly 80% level at the end of 2024; Bithumb's trading volume during the same period was approximately $86.5 billion, accounting for 31.1%, a significant increase compared to before.
According to reports, the remaining exchanges hold relatively small shares, with the combined market share of Coinone, Korbit, and Gopax amounting to less than 4%. Against this backdrop, competition among Korean exchanges is gradually shifting from fee discounts and promotional activities to branding and marketing efforts. Industry insiders noted that, with liquidity highly concentrated on leading platforms, large-scale marketing mainly serves to maintain traffic and transaction volumes, while the overall market structure remains dominated by top-tier exchanges. (DigitalToday)