South Korea’s crypto trading volume hit a two-year low, dropping below 10 trillion won ($6.7 billion) for the first time since September 2023.

The slump coincides with a dramatic collapse across the country’s stock markets.

Is South Korea Losing Its Crypto Market?

Trading volume measures the total value of assets bought and sold across exchanges over a set period. Weekly volume across South Korea’s five main fiat exchanges hit a two-year low, signaling a sharp cooling in overall market activity.

The five platforms include Upbit, Bithumb, Coinone, Korbit, and Gopax. In the week of July 3 to July 10, combined volume reached roughly 9.97 trillion won ($6.65 billion). Furthermore, that marks a 25.75% drop from the prior week’s 13.4…