Bithumb accounts for approximately 25% of South Korea's crypto trading market, and marketing spending increased to US$138 million last year.
Online reports, according to Bloomberg, Kaiko data shows that Bithumb currently accounts for about a quarter of South Korea's crypto transaction volume, higher than its single-digit market share in 2023. The company is preparing for an initial public offering (IPO) and is expected to go public by the end of 2025. A key factor in its recovery is the significant increase in total marketing spending, from 16 billion won (US$11 million) in 2023 to 192 billion won (approximately US$138 million) in 2024. According to Kaiko, Bithumb's market share soared from single digits in early 2023 to a peak of 36% after a zero-fee trading promotion in January 2024. Although some gains have receded, the exchange still holds a market share of about 25%.
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