South Korea’s five major crypto exchanges recorded about 20.5 trillion won, or roughly $15.1 billion, in combined trading volume from Sept. 25 to Oct. 2.
That was a 19.56% drop from the previous week, reducing trading activity by around 5 trillion won, or $3.7 billion.
Upbit remained the largest exchange, accounting for 64.04% of the total trading volume. However, its share fell by 3.3 percentage points from the previous week.
Bithumb stayed in second place and increased its market share to 26.66%. Coinone ranked third with 6.58%, while Digital X accounted for 2.71%. Gopax remained fifth with just 0.02%.
Upbit and Bithumb together still handled more than 90% of the combined trading volume across the five exchanges.
The latest decline comes during a weaker year for South Korea’s crypto market. Official data from the Korea Financial Intelligence Unit and Financial Supervisory Service showed that average daily trading volume at domestic crypto exchanges fell 44% during the first half of 2026 compared with the previous six months.
Combined trading volume across the five major won-based exchanges during the first half of the year was about $366.58 billion, down 54.6% from the same period a year earlier.
South Korea’s crypto market capitalization also fell by 28.3 trillion won, or 33%, during the first half of 2026. Won deposits on exchanges dropped by 35%, while exchange revenue fell 41% and operating profit declined 78%.
Despite the weaker trading activity, the number of trading accounts eligible to transact increased slightly by 0.4%.
Digital X, formerly known as Korbit, also went through a major change during the period. The exchange changed its name to Digital X on Sept. 16 after moving under Mirae Asset. Customer assets, trading history and account information remained unchanged.
South Korean exchanges are also facing tighter regulatory requirements. New rules introduced during 2026 include stronger financial soundness standards, cybersecurity requirements and tighter internal controls.
The country’s travel rule has also been expanded to cover transfers of all sizes between registered virtual asset service providers. Additional reporting requirements apply to transfers of at least 10 million won to overseas crypto providers or digital wallet operators.
The Financial Services Commission also ordered stronger controls after an earlier Bithumb payout incident. The five major exchanges agreed to increase real-time checks between internal records and wallets and strengthen monitoring of high-risk transactions.
Even with trading activity slowing, the exchanges continue to add new assets and markets.
As of Oct. 2, the ranking remained unchanged: Upbit led with 64.04%, followed by Bithumb at 26.66%, Coinone at 6.58%, Digital X at 2.71% and Gopax at 0.02%.
