South Korea is becoming a Bitcoin and Ethereum powerhouse in terms of trading volumes, liquidity and activity.
Over the past few months, South Korea’s three largest digital currency exchanges Bithumb, Korbit and Coinone have added
support for Ethereum traders by integrating Ether. In a relatively short period of time, South Korea has become the largest Ethereum exchange market with a $335 mln daily trading volume and 38 percent market share.
In fact, the ETH/KRW pair processes more trades than
the ETH/BTC pair, which used to account for over 50 percent of all Ethereum trading.
The largest Bitcoin exchange markets in the world
South Korea has also become one of the largest Bitcoin exchange markets in the world. Although South Korea is currently the fourth largest Bitcoin exchange market behind the US, China and Japan, a month ago, its trading volume and market share was
larger than China and Japan and secured its spot as the second-largest Bitcoin exchange market for awhile.