'Earnings Shock' from Sharp Decline in Trading... Virtual Asset Exchanges Embark on Restructuring

Domestic virtual asset trading volume is on the decline.
This is interpreted as funds shifting to the domestic stock market, which offers relatively higher returns, as virtual assets have stagnated due to the Middle East crisis. With the market freezing up, exchanges have set out to expand cooperation with other traditional financial institutions to draw up a new blueprint. 8 billion. Considering that it is only the middle of the month, the trading volume for this month is expected to remain at the level of $50 billion to $60 billion.
Virtual asset trading volume has plummeted since the beginning of this year. 3 billion in March, and $53 billion in April. In particular, the market remained in the $50 billion range for two consecutive months in March and April. Investor sentiment appears to have deteriorated this year as the possibility of a US interest rate hike has increased due to the situation in the Middle East.
6% from January 1st to the previous day. On February 6th, it dropped to the $60,000 mark, falling approximately 30% from the beginning of the year. The strength of the domestic stock market also triggered an outflow of funds from the virtual asset market. 08%, respectively, from the beginning of the year through the 15th.
The sharp decline in trading volume has also caused the performance of domestic virtual asset exchanges to falter. 8%, respectively, compared to the same period last year. 8%, respectively, compared to the same period last year. 69% of revenue for Dunamu and Bithumb, respectively.
Yang Hyun-kyung, an analyst at iM Securities, analyzed, "While the stock market continues to show a strong trend this year driven by artificial intelligence (AI) and semiconductors, the virtual asset market is maintaining relative weakness due to deteriorating investor sentiment. " She added, "Trading volume in the domestic virtual asset market has decreased significantly due to the strong performance of the KOSPI and the contraction of investor sentiment in virtual assets. " Consequently, exchanges are attempting to break away from their existing revenue structures that rely heavily on transaction fees. Following its announcement of a merger with Naver last year, Dunamu recently secured an equity investment worth 1 trillion won from Hana Financial Group.
Dunamu plans to expand its reach to fintech and traditional financial sectors, centering on Korean Won stablecoins, in collaboration with these companies. Mirae Asset Consulting, an affiliate of Mirae Asset Group, has also been proceeding with the acquisition of Korbit since last February. Mirae Asset Group Chairman Park Hyun-joo emphasized in his New Year's address this year that he would "digitally tokenize all investment assets. " Coinone is also considering a plan for Korea Investment & Securities and the global virtual asset exchange OKX to each acquire a 20% stake.
Lee Jun-ho, an analyst at Hana Securities, predicted, "Recently, news regarding traditional financial institutions acquiring stakes in exchanges has been emerging in the domestic virtual asset market. Active movements in the Korean Won stablecoin business are expected following the passage of the Framework Act on Digital Assets, the second phase of legislation for virtual assets. " He added, "In particular, because Dunamu and Naver Financial have significant influence in the real and digital economies, they are expected to capture a high market share in the domestic Korean Won stablecoin market alongside Hana Financial.
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yimsh0214@fnnews.com Im Sang-hyeok Reporter