South Korean Crypto Volumes Plummet Amid Stock Market Surge

South Korea's major crypto exchanges have seen a significant decline in trading activity over the past year, as the country's stock market surged. The Korea Composite Stock Price Index (KOSPI) benchmark more than doubled over the period, while volumes across the country's largest won-based crypto platforms contracted.

Cointelegraph reviewed CoinGecko's historical 24-hour volume readings for Upbit, Bithumb, Coinone, Korbit, and Gopax, comparing seven-day periods in July 2025 and July 2026. The average daily volume across the five exchanges fell about 89%, to $305 million from $2.82 billion in the comparable July 2025 period.

ZDNet Korea separately reported that daily volume across the five exchanges was down 88% year-over-year on July 20, with weaker fee income pushing some platforms to sell crypto holdings. Korbit, for example, raised about 1.6 billion won (about $1 million) by selling 15 Bitcoin and 60 Ether.