Upbit & Bithumb Post Strong Profits Despite Market Weakness

Despite declining trading volumes, South Korean cryptocurrency exchanges Upbit and Bithumb saw significant profits in the third quarter (Q3). Both companies reported a surge in operating profit, illustrating their resilience amidst market volatility. 💰 Upbit saw its profit jump by 180%, reaching ₩235.3 billion, while Bithumb achieved comparable results, albeit with slightly lower figures. 📈 💸 This success underscores the significance of revenue diversification for exchanges reliant on transaction fees, particularly in a volatile market. 🌎