Daily crypto trading volume on South Korean exchanges plummets over 80% YoY

Daily cryptocurrency trading volume on South Korea's five largest exchanges has plummeted by 82.5% over the past year, Maeil Business Newspaper reported, citing data from CoinGecko. As of Jan. 18, the combined daily volume for Upbit, Bithumb, Coinone, Korbit, and Gopax stood at 3.05 trillion won, a sharp decline from the 17.4 trillion won recorded on Jan. 19 of the previous year. The newspaper noted that in January of last year, daily trading volumes consistently neared 10 trillion won amid high market expectations. In contrast, daily volume this month has remained below 5 trillion won, with the exception of Jan. 6 (5.27 trillion won) and Jan. 14 (5.06 trillion won).