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Korean Exchange Bithumb Surpasses KOSDAQ in Daily Trading Volume
Reaching Record High
Korean Exchange Bithumb Surpasses KOSDAQ in Daily Trading Volume
  • By Yoon Yung Sil
  • August 22, 2017, 07:30
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South Korea's largest bitcoin exchange, Bithumb, posted 2.6 trillion won (US$2.28 billion) in daily trading volume on July 19.
South Korea's largest bitcoin exchange, Bithumb, posted 2.6 trillion won (US$2.28 billion) in daily trading volume on July 19.

 

South Korea's largest bitcoin exchange, Bithumb, announced on August 21 that it posted 2.6 trillion won (US$2.28 billion) in daily trading volume on the 19th, reaching a record high.

The figure is larger than 2.43 trillion won (US$2.13 billion) of the daily trading volume of the KODAQ market on the 18th.

Bithumb's trading volume recorded at 1.2 trillion won (US$1.05 billion) on the 9th, surpassing the 1 trillion won (US$877.58 million) mark. It surpassed the 2 trillion won (US$1.76 billion) mark again in 10 days after ranking on the top spot in terms of trading volume among digital currency exchanges around the world.

This is because investors’ interest in Bitcoin, the market leader of virtual currencies, is rising due to the increase in its price and the digital currency market has grown owing to the increase in the price of other digital currencies. 

An official from Bithumb said, “With Bithumb's trading volume recently surging, we could see investors’ interest in not only Bitcoin but also other alternative coins. We are also planning to list various digital currencies whose values are recognized in the future.”