South Korean cryptomeria managed to overtake its competitors with Malta’s daily trading volume.
According to the data provided regarding registered kryptomere in South Korea, and their colleagues, have received registration in Malta, the South Korean exchanges ahead of their Maltese rivals on average daily trading volume in November, according CryptoCompare.
The November edition CCCAGG with monthly review of kryptomere published CryptoCompare, shows that the South Korean stock exchange, among which Bithumb, Coinone, Korbit and Upbit registered total daily trading volume of $1.4 billion, while their competitors in Malta managed to reach only $1.2 billion.
This is a significant change compared with October, when according CryptoCompare, the aggregate average daily trading volume of the Malta stock exchanges was $1.4 billion, whereas in South Korea it was only $840 million, and on the stock exchanges of Hong Kong – $560 million
The reason of such indicators could be the fact that in November Bithumb, the largest South Korean stock exchange, ahead of Binance on the daily trading volume. According CryptoCompare, volume Bithumb last month was $1.24 billion, and Binance — only $641 million.
Incentives for the development of kryptonyte in South Korea
It is important to note that, despite a significant increase in daily trading volume Bithumb in November, the number of daily visitors has declined. CryptoCompare analysts suggested that this could be caused by a variety of incentive program made with crypto currency exchange in the form of contests, discounts and other incentives.
In late October the financial regulator of South Korea, the FSC officially allowed banks to serve the crypto currency exchange on the condition that they will take adequate measures to combat money-laundering (AML) and apply the KYC verification. Perhaps this was the impetus for the development of kryptonyte in South Korea.
Also in November Bithumb announced the signing of a contract with the American SeriesOne platform to run the exchange security tokens in the United States.
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