Daily trading volume across South Korea’s five largest won-based crypto exchanges fell 88% year over year to about KRW 412.7 billion ($280 million) as of July 20, according to ZDNet Korea. The decline has reduced exchange revenue, with Upbit operator Dunamu reporting first-quarter revenue and operating profit down 55% and 78%, respectively. Korbit has sold crypto holdings three times this year, including 15 BTC and 60 ETH in early July, to raise about KRW 1.6 billion ($1.08 million) for operating expenses.
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