According to data from CCData, South Korean cryptocurrency exchange Upbit surpassed Coinbase and OKX in spot trading volume for the first time in July, with a 42.3% increase to $29.8 billion. This places Upbit as the second-largest exchange by trading volume after Binance, which still holds the largest market share despite a fifth consecutive month of decline. The report also notes that centralized exchanges (CEX) recorded the second-lowest trade volumes since 2021, with users turning to decentralized exchanges (DEX) due to major lawsuits involving popular CEXs like Binance and Coinbase.
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South Korean Exchange Upbit Overtakes Coinbase and OKX in Spot Trading Volume
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