Bithumb Claims Larger Slice of Korea’s Crypto Space Ahead of IPO

After years spent in the shadow of larger rival Upbit, crypto exchange Bithumb is clawing back a more meaningful share of South Korea’s tightly held digital-assets market.

Bithumb now consistently accounts for about a quarter of the country’s massive crypto trading volumes, up from a single-digit market share in 2023, according to Kaiko data.

Once South Korea’s leading crypto exchange, Bithumb’s resurgence comes as it prepares for an initial public offering that’s expected to take place by the end of 2025. The company has prioritized wrestling trading activity away from Upbit, the Dunamu Inc.-owned exchange, through aggressive marketing tactics. ...