Bithumb accounts for about 25% of the market share of crypto exchanges in South Korea, with marketing spending rising to $138 million last year

According to Bloomberg, Kaiko data shows that Bithumb currently accounts for about a quarter of crypto trading volume in South Korea, up from its single-digit market share in 2023. The company is gearing up for an initial public offering (IPO), which is expected to go public by the end of 2025. A key factor in its recovery has been a significant increase in total marketing spend, from 16 billion won ($11 million) in 2023 to 192 billion won (~ $138 million) in 2024.
According to Kaiko, Bithumb's market share has skyrocketed from single digits in early 2023 to a peak of 36% in January 2024 following a zero-fee trading promotion. Although some of the gains have fallen back, the exchange has consistently held a market share of around 25%.