Digital Asset reported that amidst a situation where domestic virtual asset trading volume has more than halved in a year, users in the top 10% of trading volume, the so-called 'whales,' accounted for more than 96% of the total trading volume. According to data submitted by Democratic Party lawmaker Park Hong-bae's office to the Financial Supervisory Service, the transaction concentration rate in the first half of 2026 was ▲Upbit 95.6% ▲Bithumb 97.41% ▲Coinone 99.2% ▲DigitalX 99.43% ▲Gopax 97.61%. Transaction concentration refers to the proportion of the total trading volume on each exchange accounted for by the top 10% of users by trading volume. Concerns about market manipulation risk are also emerging regarding the phenomenon of trading being concentrated among a few users.
