South Korea’s crypto trading volume drops 20.3% amid summer slowdown

South Korea’s top crypto exchanges saw a cooldown in trading activity, with daily volume across Upbit, Bithumb, Coinone and Korbit totaling 3.54 trillion won ($2.55 billion), down 20.3% from the day before. As of 22:00 UTC on Aug. 3, that’s a drop of 899 billion won ($647 million), based on data from CoinMarketCap cited by local outlet Topstarnews. The slump is being chalked up to traders stepping back during the summer vacation season. Upbit held onto its lead with 2.33 trillion won ($1.68 billion) in volume, capturing 65.8% of the market. Bithumb followed with 1.09 trillion won ($785 million) at 30.8%, while Coinone and Korbit brought up the rear with just 98.3 billion won ($70.8 million) and 21.3 billion won ($15.3 million), respectively.