South Korean Crypto Exchanges Losing Ground to Overseas Platforms
A recent report has highlighted a concerning trend among South Korean crypto exchanges, as trading volumes on domestic platforms continue to drop while users turn to overseas exchanges. The report, compiled by the country’s top financial regulators, the Financial Services Commission and the Financial Supervisory Service, analyzed data from 17 crypto exchanges, eight custody platforms, and wallet providers in the first half of 2025.
According to the report, the amount of money and crypto transferred to overseas platforms reached 78.9 trillion won ($56.2 billion), marking a 4% increase. This shift towards overseas exchanges comes as the overall crypto market’s upward trend begins to slow, following a strong finish to 2024.
While the report did show growth in user numbers, reaching 10.77 million, the domestic crypto market saw a decline in key areas. The size of the crypto-to-fiat market fell by 12%, while the crypto-to-crypto market saw a significant increase of 286%. Additionally, the domestic market capitalization dropped by 14%, compared to only a 7% decrease in overseas market cap figures.
One of the most significant findings was the decrease in KRW deposits by 42%, amounting to 6.2 trillion won ($4.4 billion). This drop in deposits is seen as a sign of decreased trading activity and less interest in investing fiat holdings. Traders also experienced a 17% decrease in profits since the second half of last year.
Regulators noted that exchanges are listing more tokens than ever to boost trading volumes, with the trading pair total jumping from 181 to 1,538. However, 43% of these coins have a market capitalization of less than KRW 100 million ($71,232), raising concerns about market risks such as price fluctuations and liquidity.
Despite customer withdrawals growing by 5% to KRW 101.6 trillion ($72.4 billion), the total value of assets under the management of domestic custody and wallet operators decreased by 50%, with a 41% drop in user numbers for these services.
The report attributed the market slowdown and increased volatility to global tariff-related disputes and heightened geopolitical tensions. Overseas corporate crypto buying has driven up Bitcoin prices, but weakening retail investor sentiment has led to mixed results for other tokens.
The decline in kimchi coins, low-cap South Korean projects typically traded on domestic exchanges, also stood out in the report. The number of kimchi coins listed on domestic exchanges dropped by 3% in the past six months, signaling a shift towards listing more promising overseas coins that are actively traded on international exchanges.
In conclusion, South Korean crypto exchanges are facing tough competition from international rivals, as users increasingly turn to overseas platforms for trading. The industry is experiencing a shift in trading patterns and a decline in domestic market activity, prompting exchanges to adapt to changing market dynamics. the perspective of a travel enthusiast exploring the hidden gems of a small town in Europe.
Exploring the Hidden Gems of a Small European Town
As a travel enthusiast, I have always been drawn to the charm and allure of small towns in Europe. While major cities like Paris, Rome, and London often steal the spotlight, it’s the hidden gems of lesser-known destinations that truly capture my heart. Recently, I had the opportunity to visit a quaint and picturesque small town in Europe, and it was an experience that left me in awe of its beauty and history.
Nestled in the rolling hills of the countryside, this small town exuded an old-world charm that instantly transported me back in time. As I wandered through the cobblestone streets, I was greeted by charming cafes, boutique shops, and colorful buildings that seemed straight out of a fairytale. The town square was bustling with locals going about their day, and I couldn’t help but feel like I had stumbled upon a hidden gem that few tourists had discovered.
One of the highlights of my visit was exploring the town’s historic landmarks. From ancient churches and castles to winding alleyways and hidden gardens, every corner revealed a piece of the town’s rich history. I spent hours wandering through the narrow streets, uncovering hidden gems that told stories of a bygone era. The architecture was a beautiful blend of Gothic, Renaissance, and Baroque styles, each building a testament to the town’s past.
But it wasn’t just the history that captivated me – it was also the warm and welcoming locals who made my visit truly unforgettable. Whether it was striking up a conversation with a shopkeeper, sharing a meal with a local family, or simply getting lost in the labyrinth of streets, I felt a sense of belonging and connection that is often missing in larger, more touristy destinations.
Of course, no visit to a small European town would be complete without indulging in the local cuisine. From hearty stews and fresh seafood to decadent pastries and fine wines, every meal was a culinary delight that showcased the town’s unique flavors and traditions. I savored every bite, soaking in the sights and sounds of the bustling markets and cozy eateries that lined the streets.
As my time in this small town came to an end, I found myself already planning my next visit. The hidden gems I had discovered – from the historic landmarks to the charming locals and delectable cuisine – had left an indelible mark on my heart. I left with a sense of gratitude for the opportunity to explore such a special place and a renewed appreciation for the beauty and magic of small towns in Europe.
In a world where travel often revolves around checking off bucket list destinations, it’s the hidden gems like this small European town that remind me of the true essence of exploration – discovering the beauty and wonder of the world one hidden gem at a time.