Diagnose the current status of recent cryptocurrency Exchange

 

Korean Exchange has been searching for breakthrough in the market due to the downhill in bit coin market. Due to lasting recession in the market, it has been long since the amount of transactions decreased as opposed to trillion-unit transaction on last December and in the beginning of this year, and investors and Exchange are experiencing the deteriorated situations in the market.  How have Exchanges overcome the market in the past? In addition, I have diagnosed how policies in each Exchange are in progress.

 

As of September 6th, there are 63 coin exchanges that are in service. This is the highes number of Exchange in the history that

I would say the market is being saturated.

Among them, Bithumb and UPbit are regarded as the biggest coin exchanges. Bithumb is the first exchange in Korea that attracted

many of the investors. UPbit has attracted investors with appropriate environment for coin transactions with outstanding UI system.

In addition, other exchanges are competing with each other to attract investors with their own policies.

However, some of the domestic exchanges have started recruiting investors with aggressive marketing to rungo counter in the current

trend in the market and existing system.

Current status of exchanges in Korea are as follows.

 

1. Bithumb: Start pumping with limited quantity by blocking the deposit/withdrawal in the wallet in exchange. Policy for blocking

deposit/withdrawal in the wallet has been implemented first by Bithumb.

There has been a huge pumping that those who invested in the beginning ended up earning much. However, followers ended up

being damaged as they purchased coin with the significantly increased price compared to the market price

2. UPbit: Experiencing downhill without listing coin even in a deteriorating circumstance.

The amount of transactions has been significantly reduced after the huge increase on last December and January, and there is no action to take

in such circumstances. Judged to go with a flow in the market.

3. Coinone: Investigation currently goes on CEO of Coinione, Myunghoon Cha, for the self-margin transactions. Low UI and many technical issues

that many of the investors stopped investing on them.

4. Coin Rail: Hacking on coin rail. Significant damage on investors and issued 'rail coin' as a coin exclusively issued from them.

This policy has become a starting point for domestic exchanges to issue their own coins.

5. Coinbit: Blocked deposit/withdrawal wallet for several coins. Significant pumping. Especially, ELF coin increased with the value for about 150 times higher than the lower value.

6. Cashier Rest: Blocked deposit/withdrawal in coin wallet besides bitcoin and etherium. Significant pumping. They issued their exclusive

coin named CAP coin distributing CAP coin to early investors with commission from exchange mining and fixed the initial market price

as 0.1 KRW. They are now representing about 20 times of growth compared to the beginning.

7. Coin zest: Issued exclusive coin named COZ coin. Showing about 80 times of growth compared to the initial price in the market.

 

 

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