Catenaa, Monday, September 15, 2025- South Korea’s Upbit exchange has accelerated coin listings in response to rival Bithumb’s growing trading volumes, aiming to maintain its lead in the domestic crypto market.
Reports indicate Upbit listed seven new tokens over the past ten days as Bithumb’s market share rose to 46%, narrowing the gap with Upbit’s 50.6%.
Upbit has historically dominated South Korea, at times capturing over 80% of the market. Bithumb has challenged this dominance through partnerships with Kookmin Bank and plans for a NASDAQ listing via a spinoff firm.
Upbit’s listings include Worldcoin (WLD) and Linea (LINEA), timed strategically to match surges in Bithumb trading volumes. The WLD token was listed within two hours after Bithumb saw increased trading activity on September 9.
Experts warn the accelerated listing pace could risk customer protection. The competition may pressure exchanges to bypass thorough review processes, raising concerns about investor safety.
Delisting activity has also increased, with 25 altcoins removed by Upbit, Bithumb, and other South Korean exchanges since July, including coins recently added.
Industry insiders suggest that regulatory limits confining exchanges to spot trading inadvertently intensify listing competition and expose investors to higher risks.
Market watchers anticipate continued rapid listings as both exchanges attempt to secure market share. The competitive environment highlights the growing tension in South Korea’s crypto sector, where exchange dominance, regulatory oversight, and investor safety remain in delicate balance.
