Bithumb's Bitcoin Bonanza: Soaring Beyond $3 Billion in a Crypto Crescendo, Gears Up for a Dazzling 2025 IPO Debut!

In January, Bithumb, the major South Korean cryptocurrency exchange, experienced a significant surge in Bitcoin trading volume, reaching an impressive $3 billion, while competitor Upbit faced challenges with its volume remaining below $1 billion. Bithumb strategically eliminated all transaction fees in October of the previous year, aiming to expand its market presence in a landscape largely dominated by Upbit. Despite a brief increase in market share, Bithumb's trading volume eventually reverted to pre-policy levels. However, the latest data indicates a resurgence, surpassing Upbit in Bitcoin trading volume. The surge is attributed to strong buying pressure from retail investors in South Korea, reflected in record high Korean Premium values. Bithumb, along with other top exchanges, marked their highest trading volumes in the first week of January 2024. Additionally, Bithumb plans to debut on the KOSDAQ, South Korea's equivalent of Nasdaq, in late 2025, positioning itself as the first digital asset company to undergo the process of becoming publicly traded on the South Korean stock market, with Samsung Securities potentially serving as an underwriter.