Bithumb Expands Market Share in South Korea... Strategy Targeting Individual Investors Succeeds

Uk Jin

Summary

Bithumb has successfully recovered its market share, accounting for a quarter of the domestic virtual asset trading volume.
Bloomberg cited aggressive marketing targeting individual investors as a key factor for success.
Bithumb reported better performance in attracting new customers compared to competing exchanges.

The South Korean virtual asset (cryptocurrency) exchange Bithumb has successfully recovered its market share over the past two years.

On the 19th (local time), Bloomberg News, citing Kaiko data, reported that Bithumb currently accounts for a quarter of the domestic virtual asset trading volume, an increase from a single-digit market share in 2023.

Bloomberg analyzed that Bithumb's success in recovering market share is due to 'aggressive marketing' targeting individual investors.

In particular, Bithumb achieved better results in attracting new customers compared to other virtual asset exchanges. According to Mobile Index, Bithumb's new app installations last month were 177,621, 10.8% more than Upbit's 158,499 new app installations during the same period.