Domestic virtual asset trading volume continues to decline. This is interpreted as a result of both the price correction of major virtual assets such as Bitcoin and the stock market's ongoing bull run, with the KOSPI surpassing 4,000 points, leading to a shift in liquidity.

According to CoinGecko, a virtual asset market analysis site, the trading volume at Korea's five major virtual asset exchanges (Upbit, Bithumb, Coinone, Korbit, and GOPAX) from the 1st to the 27th of this month was $109.26314 billion (about 157 trillion won). This represents a 12.63% decrease compared to September 2025, when the figure was $125.05846 billion (about 179 trillion won).

The trading volume at domestic virtual asset exchanges has continued to shrink, dropping from $160.23098 billion (about 230 trillion won) in July 2025 to $136.06213 billion (196 trillion won) in August 2025.

Domestic virtual asset trading volume continues to decline. Yonhap News Agency

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One reason for the decline in trading volume is the slowdown in the prices of major virtual assets such as Bitcoin. Typically, October is considered 'Uptober,' a period when Bitcoin prices tend to rise. However, this year, after reaching $126,000 (about 181 million won) in early October, Bitcoin underwent a correction and is currently fluctuating between $104,000 (150 million won) and $116,000 (166.72 million won).

There are two main reasons why Bitcoin prices are moving sideways. First, the approval of an altcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC), which was expected this month, has been delayed. In addition, concerns over the intensifying U.S.-China trade dispute have led to the liquidation of about $19 billion (about 27 trillion won) that had been invested in virtual assets, significantly dampening investor sentiment.

Another reason is that the KOSPI's upward trend is continuing.

While virtual assets like Bitcoin remained sideways, the KOSPI broke through the 4,000 mark on the 27th from the 3,450 level on the 1st of this month.

During this period, the KOSPI trading volume reached 254 trillion won.

On the 29th, an employee is working at the Hana Bank dealing room in Jung-gu, Seoul. On that day, the KOSPI started higher and rose to the 4,050 level, setting an intraday all-time high. Photo by Yonhap News

An industry official commented, "Contrary to expectations for Uptober, global uncertainty has increased, causing a clear contraction in trading activity within the virtual asset market. As the decline in trading volume has become more pronounced compared to the stock market, investor sentiment has become even more conservative."

The official added, "The increased tendency to avoid risk assets following large-scale liquidations has also played a significant role. The outlook for the end of the year is mixed, but it appears that policy direction and the recovery of liquidity will be the key factors shaping market trends."