Bithumb could no longer claim that it is the world’s largest cryptocurrency exchange because Bithumb is the world’s 125th largest cryptocurrency exchange once its fake trading volume is taken out.
Upbit is South Korea’s largest cryptocurrency exchange. It is South Korea’s only exchange whose global trading ranking is within the 50 places. Bithumb is even behind Gopax by 9:1, according to the CoinMarketCap.
South Korea’s Coinone ranked 55th and Korbit, the world’s first Korean won cryptocurrency exchange was placed at 63rd.
According to the CoinMarketCap, Bithumb exaggerated its trading by more than 15,000 times. It included all dealings whose transaction fee is not made.
Binance and OKEx are the world’s first and second-largest trading exchanges according to the ‘real’ trading volume whose transaction fee is made.
