Upbit and Bithumb, South Korea’s crypto giants, have attracted a lot of attention in the Altcoin space due to their extensive liquidity and impressive token pumps. Are these exchanges dominant in the South Korean market and new hope for altcoin holders seeking explosive growth? Let’s explore.
Upbit and Bithumb: New liquidity giants?
Upbit and Bithumb cemented their position as strong communications, especially for Altcoin holders seeking a massive price surge.
A compelling example is the WalletConnect token WCTAs reported in recent market data, it soared nearly 200% after it went public on UPBIT. Even for binance, WCT continues to lead the highest element, demonstrating the ripple effect of Upbit’s influence.
Source: TradingView
Learn more: WalletConnect (WCT) will be listed on Binance Launchpool
Additionally, UPBIT has a reputation for driving a large number of pre-up pumps (such as several tokens):
- ind (Injected protocol): 20%
- mew (Cats in the Dog World): 26%
- STG (Stargate Finance): 80%
- uxlink (uxlink): 183%
- ondo (ondo): 18%
Bithumb also showed impressive performance on the token list. According to a 2024 Klein Lab report, Bithumb ranked second among centralized exchanges listing post-token performance, with an average price gain of 9.05% and a median increase of 5.3% in the first 30 days of listing. Together, Upbit and Bithumb became a strong competitor to Binance, especially after Binance performed well on the Token list in early 2025.
This is especially true in South Korea, where both exchanges dominate the market, catering to a heavy-duty investor base known for driving Altcoin rally.
Despite Binance’s scrutiny and regulatory challenges, Upbit and Bithumb are becoming another place for investors to go, especially for Altcoin holders looking for the next big pump.
About Upbit and Bithumb
Launched in 2017, UPBIT is the largest cryptocurrency exchange in South Korea, known for its user-friendly interface and a wide range of market products. It supports over 180 cryptocurrencies and over 300 trading pairs, including the Fiat market with the Korean Winner (KRW). UPBIT expands globally in Singapore, Indonesia and Thailand, with a value of US$8.7 billion in 2021. On Bitdegree’s Exchange Tracker, it ranks 26th in global exchanges, reflecting its important presence in the cryptocurrency space.
Founded in 2014, Bithumb is another Korean Titan with a focus on safety and compliance while primarily catering to the local market. Bithumb has been a pioneer in the Korean cryptocurrency scene, with the most active trading pair being USDT/KRW, with a daily volume of USD107.6 million.
With Upbit’s total sales exceeding $3 billion and Bithumb’s total volume exceeding $700 million, it’s no surprise that these two exchanges have had a huge impact on token prices immediately after they go public. As they continue to compete with international giants like Binance, Upbit and Bithumb are not only local players, but also global forces in the Altcoin market, providing hope and opportunity for Token Holders around the world.
