Crypto Market Dominance: Upbit Handles 80% Of South Korean Trading Volume
A recent report revealed that the South Korean exchange Upbit dominates the local crypto market with over 80%. Additionally, Upbit rose to fifth place in the top five global exchanges list. Different platforms have unsuccessfully challenged the exchange’s dominance in the country, and the upcoming regulatory framework has affected them. Related Reading: Terraform Labs And […]
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Bitcoin trading activity in South Korea has reportedly dipped amid rising interest in smaller altcoins. South Korea’s “big four” crypto exchanges — Bithumb, Korbit, Upbit and Coinone — are showing a marked cooling off in Bitcoin (BTC) enthusiasm.Meanwhile, altcoins are now accounting for the highest 24-hour trading volume according to data from multiple market aggregators.Apart from XRP, which is often popular among crypto traders in Asia, altcoins with smaller market capitalizations are leading the way in terms of trading volume on the big four.Data from crypto research outfit Messari....
A cryptocurrency investor has reportedly sued South Korean crypto exchange Upbit after the trading platform delayed processing his luna coin transfer prior to its crash. The Korean crypto exchange is investigating the details of the lawsuit.
Upbit Sued by Crypto Investor
Dunamu Inc., the company that operates the South Korean cryptocurrency exchange Upbit, has been sued by a crypto investor, a man in his 50s, Korea Joongang Daily reported Monday.
The investor alleged that Upbit delayed processing his coin transfer off the exchange prior to the coin crashing, resulting....
Upbit is one of South Korea’s largest cryptocurrency exchanges alongside Bithumb, Coinone and Korbit — who are collectively referred to as “The Big Four.” Major South Korean cryptocurrency company Upbit has reportedly submitted a business report with the Korean Financial Intelligence Unit (FIU).Upbit reported its digital asset business to the FIU, which operates under South Korea’s top financial regulator, the Financial Services Commission (FSC). Upbit’s operator, Dunamu, announced the news on Friday, The Korea Economic Daily reported.Upbit is one of South Korea’s largest cryptocurrency....
Major South Korean crypto trading platform Upbit will start gradually limiting services for unverified users this week. South Korean cryptocurrency exchange Upbit will soon halt services for unverified users.On Saturday, the company officially announced a set of changes to its customer verification system in compliance with South Korea’s mandatory Anti-Money Laundering (AML) requirements.According to the announcement, Upbit will start gradually limiting services for unverified users this week, restricting unverified customers from transacting more than 1 million Korean won ($850) at a....
Rumors abound that LG subsidiary, LG CNS, is the technical partner helping Bithumb develop its NFT marketplace which is set to be launched at some point in 2022. South Korean crypto exchange Bithumb is developing an NFT marketplace with “a large company” thought to be LG CNS, a subsidiary of LG Corporation. Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive with Korbit and Upbit, two other domestic Korean exchanges. Heo said:“An NFT marketplace will be important in....