South Korean Upbit Becomes Top 5 Exchange by Volume
Upbit became the first exchange registered with the Financial Intelligence Unit in 2021. This was made possible as a result of its partnership with K-Bank, an online lender.
Upbit became the first exchange registered with the Financial Intelligence Unit in 2021. This was made possible as a result of its partnership with K-Bank, an online lender.
Upbit experienced interesting trading trends recently. Its daily volume dropped to $3.8 billion in early April, a notable decline from its March peak.
South Korea’s upcoming election sees cryptocurrency’s rising influence as parties propose contrasting policies, sparking debates over taxation and regulation.
The Binance crypto exchange had a monthly trading volume dominance of about 40 percent, representing $432 billion, despite the regulatory hurdles.
In tandem with the IPO preparations, Bithumb has initiated efforts to improve its corporate structure.
With the license, Upbit will now be able to offer digital payment token services to institutional investors. However, it still awaits a full MPI license from the MAS.
To bolster security and thwart hacking attempts, Dunamu revealed that Upbit increased its holdings in cold wallets to 70%. The exchange also improved the security of its hot wallets.
Though Upbit quickly moved to halt deposits and withdrawals, that decision came after the fake APT token had already made its way into 400,000 Aptos wallets.
Upbit noted that CRV has experienced increased volatility.
Since BCH became one of the four cryptocurrencies traded on EDX, its price has continued to rise. In the last 24 hours, the crypto has spiked more than 30%, reaching $325 for the first time since April 2022.