Bitcoin's price slump cuts transactions by 10% from the peak

As Bitcoin has continued its recent slump in prices, transactions in the virtual asset market have also fallen to one-tenth of the peak.

As Bitcoin (BTC) continues its recent slump in prices, transactions in the virtual asset market have also fallen to one-tenth of the peak. The virtual asset market had a higher daily transaction value than the KOSPI and KOSDAQ markets combined at the end of last year, but now it is lower than the KOSDAQ.

According to CoinGecko on the 30th, the total transaction value of the nation's top five virtual asset exchanges (Upbit, Bithumb, Coinone, Covit, and GoFax) on the 27th was 4.4595 trillion won.

This is more than 20% less than KOSDAQ, which recorded 5.658 trillion won in transaction value on the same day. Compared to the KOSPI, which recorded 7.676.2 trillion won, it is only half the level.

The difference is significant compared to the time when U.S. President Donald Trump, who floated Bitcoin during the U.S. presidential election late last year, saw his transaction prices soar due to the increased possibility of winning the election.

Domestic coin transactions, which had surged sharply due to the Trump effect at the end of last year, hit 52 trillion won at the time of the emergency martial law incident, the highest ever.

Bitcoin's daily transaction price fell below 10 trillion won as of February 7, when it last hit 100,000 dollars this year. Lasting on the 11th, the transaction value of the virtual asset market has not exceeded the KOSDAQ.

Industry analysts say that the timing of the implementation of tariffs announced by President Trump could be an inflection point.

"The market will take a wait-and-see stance until the 2nd of next month, but the possibility of a market rebound and a recovery in trading volume is open depending on the tariff policy," said Kim Min-seung, head of the Covit Research Center.