Bithumb briefly reached an all-time high market share of 72% in early February compared to its main competitor, Upbit. The latest development surfaces amid intensifying crypto trading activity in South Korea, particularly with the surge in Bitcoin trading. Upbit and Bithumb, the top exchanges in the country, both saw their trading volumes peak during the first week of January 2024. These exchanges have been locked in intense competition with each other, particularly in light of the broader market rebound.
Source: Chayanika Deka, 2024-02-17; https://cryptopotato.com/bithumb-rockets-to-all-time-high-in-korea-claims-72-market-share-over-upbit/