Home / Crypto News / South Korea will overtake Maltese in transaction volume in November's down market

South Korea will overtake Maltese in transaction volume in November's down market

According to a report (CCCAGG) summarizing the situation of the cryptocurrency market released by CryptoCompare on 6th, it was revealed in November that Korean exchanges exceeded the trading volume of Maltese exchanges .

According to the report, the average trading volume of Maltese exchanges is 1.12 billion dollars per day, and Korean exchanges are 1.4 billion dollars. Meanwhile, the average transaction volume in October was reversed, with Malta at $ 1.4 billion and South Korea at $ 840 million.

Most Korean trading volume is attributed to Bithumb and UPbit, and in Malta the ratio of OKEx and Binance is half. In addition, in the November report, countries such as Hong Kong, Samoa and Seychelles are ranked in following the Republic of Korea and Malta.

In addition, Korean exchanges Bithumb reached 1.24 billion dollars, up 280% from the average trading volume of last year’s $ 3.2 billion, more than doubling the average Binance trading volume of 640 million dollars.

However, if you look at the visitors per day, it is reported that Bithumb has about 70,000 people, while Bithumb remains less than 10,000 people.

Some Korean regulators have allowed the exchange which is in compliance with the AML and KYC regulations, and there is a view that the presence of the Korean team will increase in the cryptocurrency market in the future.

Article Source: CryptoCompare


Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/korean-exchanges-surpass-maltese-exchanges-by-trading-volume/

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