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Upbit Retained Its Title as South Korea’s Largest Cryptocurrency Exchange
Summary: Upbit retained its title as South Korea’s largest cryptocurrency exchange in terms of cash parked, and the number of subscribers and transactions, data showed Sunday. According to the data from Rep. Yoon Do-hyun of the People Power Party, a member of National Policy Committee, Upbit had 5.3 trillion won ($4.5 million) deposited its accounts, four ...
Upbit retained its title as South Korea’s largest cryptocurrency exchange in terms of cash parked, and the number of subscribers and transactions, data showed Sunday. According to the data from Rep. Yoon Do-hyun of the People Power Party, a member of National Policy Committee, Upbit had 5.3 trillion won ($4.5 million) deposited its accounts, four times larger than three local rivals -- Bithumb, Coinone and Korbit -- combined.
The list showed Bithumb was second-largest, with over 1.3 trillion won in deposits. Total deposits made to Coinone and Korbit marked 248 billion won and 69 billion won, respectively. The total number of Upbit users as of July was 4.7 million, 3.6 times more than Bithumb. It also had 8.6 times as many users as Coinone and 47 times more than Korbit.
Data showed Upbit and the three rivals attracted millions of new customers this year. From April to July, the number of new users who opened accounts in Upbit was 1.8 million. Bithumb drew in 450,000 new users, while Coinone and Korbit each attracted 170,000 and 45,000 users in the same period.
By Amy Liu
Tags: Cryptocurrency Exchange,South Korea,Upbit
Link: Upbit Retained Its Title as South Korea’s Largest Cryptocurrency Exchange [Copy]
