Bithumb, one of South Korea’s largest crypto exchanges, marked its 12th anniversary by launching a third market for Tether (USDT), expanding stablecoin trading operations.
This expansion highlights Bithumb’s focus on stablecoin growth and has resulted in increased trading volume, with USDT surpassing traditional crypto pairs like XRP and ETH in volume.
Bithumb, a leading South Korean crypto exchange, has launched its third USDT market to celebrate its 12th anniversary.
The exchange has been a significant player since its establishment in 2014, known for its high KRW-crypto trading volumes. The expansion into a new USDT market signals a strategic shift toward stablecoin trading.
Bithumb’s 12th Anniversary: Launch of Third USDT Market
Bithumb, a leading South Korean crypto exchange, has launched its third USDT market to celebrate its 12th anniversary. The exchange has been a significant player since its establishment in 2014, known for its high KRW-crypto trading volumes.
The expansion into a new USDT market signals a strategic shift toward stablecoin trading. As one of South Korea’s largest exchanges, Bithumb remains a key player in enhancing market access and liquidity for cryptocurrency traders.
USDT Volumes Surge, Overtaking XRP and ETH on Bithumb
USDT trading volumes surged, surpassing other major cryptocurrencies like XRP and ETH. Bithumb’s daily trading activity varied between $500M to $3B, with noticeable spikes during the anniversary and associated campaigns.
Market reactions have reflected a positive trend, as greater reliance on stablecoin-centric trading emerges. Analysts suggest enhanced liquidity and market depth, potentially altering the financial landscape, despite existing regulatory tensions in South Korea.
Stablecoin Trading Increases Market Activity: Expert Perspectives
Previous stablecoin trading expansions often increased market activity, as seen with Upbit’s similar moves. These have historically enhanced arbitrage opportunities and trading flows, increasing the stablecoin market’s appeal.
Expert insights from Kanalcoin reflect that stablecoin markets are reshaping traditional approaches. The emphasis on data-driven and liquidity-focused trading aligns with broader trends toward decentralized finance infrastructure adaptations.
“Bithumb highlighted a greater reliance on stablecoin-centric trading, with USDT ($877 million) surpassing XRP ($683 million) and ETH ($639 million).”Source
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