Bithumb volume falls 31.3% as South Korean exchange activity drops in Q1

Overall trading volume on South Korean cryptocurrency exchanges decreased in the first quarter of 2026, though a surge in activity on some smaller platforms indicates a potential market shift, Digital Asset reported. A survey of Upbit, Bithumb, Coinone, Korbit, and Gopax from Oct. 1, 2025, to March 31, 2026, found that the five exchanges' combined trading volume fell from 397.7 trillion won in the fourth quarter of 2025 to 318.3 trillion won in the first quarter of 2026. The decline was most pronounced at Upbit and Bithumb. During the period, Upbit's volume fell by 21.8% from 259.4722 trillion won to 202.8931 trillion won. Bithumb experienced the largest drop among major exchanges, with its volume decreasing by 31.3% from 121.8856 trillion won to 83.9314 trillion won.