On cryptocurrency addresses the largest bitcoin exchange South Korea Bithumb as at 31 December 2017 kept $6 billion of investors ‘ funds. Such data are contained in the annual financial report of the platform, writes NewsBTC.
Of these funds, $1 billion was accounted for by bitcoin, of $1.6 billion – Ripple, $0.7 billion for QTUM, $0.65 billion for EOS, $0.6 billion for Ethereum, $0.5 billion for Bitcoin Cash and $0.3 billion for Bitcoin Gold. A number of other crypto-currencies were less significant. Also in the accounts Bithumb at that time was $0.4 billion of its own funds.
Based on these numbers, the daily trading volume of the exchange in the amount of $476 million represents approximately 8% of all media users, which is another indication of the high activity of cryptocurrency traders in South Korea.
The report also says that Bithumb is the most popular in the country, and it accounts for 75.7% of the total trading volume of bitcoin and at least 50% in Ethereum.
As previously wrote ForkLog, compared with 2016 revenues Bithumb grew up in 2017 171 times. The main source of the profit of the platform is the Board in the amount of 0.15% of each cryptocurrency transactions.
The parent company of the exchange is BTCKorea, whose shares are traded on the stock exchange Korea Exchange (KRX).
In March, the exchange Bithumb announced plans to launch a network of crypto-currency terminals to pay for various goods and services. In April, the site announced the creation of a blockchain platform that will support payments and transactions in different social networks, web communities and blogs.