Korbit's Stablecoin Trading Volume Increases by 71.2%

The trading volumes of domestic cryptocurrency exchanges Korbit and Coinone surged following the elimination of trading fees. From August 24 to September 3, Korbit recorded a total trading volume of $99.24 million over 11 days, an increase of 188.6% compared to the previous 11 days' volume of $34.38 million. Coinone also saw its total trading volume rise to $423.63 million during the same period, up 85.8% from $227.91 million in the previous 9 days. Korbit's stablecoin trading volume share rose from an average of 46.9% over the previous 11 days to an average of 71.2% in the following 11 days after the fee elimination. From the first day of the fee removal, the stablecoin share exceeded 90% for five consecutive days, reaching 95.8% on August 24. Coinone's stablecoin share also increased from 51.8% the day before the fee removal to 63.3% immediately after. Between August 12 and September 3, Korbit's stablecoins accounted for 1.31 trillion won out of a total trading volume of 1.52 trillion won, representing 86.0%, while Coinone's stablecoins made up 1.26 trillion won out of 2.32 trillion won, or 54.4%. Analysts suggest that the removal of trading fees has increased the incentive for automated trading.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.