According to “South Korean Exchange Market Review,” a report published by Blockchain Transparency Institute (BTI) on August 20th, Bithumb was ranked the first in Korea this year in terms of crypto trading volume.
This report indicates that, among cryptocurrency exchanges in Korea, Bithumb, UPbit, and Coinone are included in the BTI global top 10, and Bithumb ranks third in the world and first in Korea based on the daily trading volume. It also shows that more than 90% of the trading through the three large crypto exchanges is being made transparently.
BTI evaluated that Korea’s cryptocurrency market is transparent across the board. It also mentioned that korbit and GOPAX are transparent although the daily average trading volume is relatively smaller at USD 20 million or less.
BTI detects abnormal trading and cross trading using the BTI Verified Service, a trading volume analysis program. Cryptocurrency exchanges across the world including Bithumb and BitForex are using this service that monitors their reliability.
Since August 2018, BTI has been publishing a global exchange ranking and market report by measuring trading volumes on the basis of its internal data analysis in order to improve the transparency and reliability of the blockchain and cryptocurrency market.