According to a recent report from Web3 market strategy consulting firm DeSpread report, the Korean crypto space will be populated by roughly 6 million investors, comprising more than 10% of the entire population.

Centralized Exchanges (CEX) appear to be the choice for most of these enthusiasts, according to the report. This massive influx of investors indicates a growing trust and interest in crypto, making South Korea a crucial player in global digital finance.

Dominance Of Korean Crypto-Centralized Exchanges

Against the backdrop of a worldwide slump in crypto trading volumes, Korean Centralized Exchanges (CEXs) tell a different story. Four pivotal players, Upbit, Bithumb, Coinone, and Korbit, seem to be driving this momentum, together accounting for 10% of the global trading volume.

This feat places them ahead of Coinbase, the second-largest exchange globally, in trading volumes. Upbit, in particular, leads the pack, registering a trading volume of $36 billion in February alone and securing 80% of the Korean market.

Following Upbit is Bithumb, capturing between 15% to 20%, while Coinone and Korbit trail with market shares of 3-5% and lower than 1%, respectively.

A Dive Into Altcoin Preferences

Investment trends often serve as a window into investor psychology. A closer look at Korean CEXs reveals a distinctive penchant for altcoins. As disc

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Author: Samuel Edyme

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