Upbit Won Deposits Drop 36% to $1.5B as Customer Idle Funds Leave Exchange

BitcoinWorld Upbit Won Deposits Drop 36% to $1.5B as Customer Idle Funds Leave Exchange South Korean cryptocurrency exchange Upbit has seen its won-denominated customer deposits fall sharply this year, dropping to 2.0974 trillion won (approximately $1.5 billion) as of the latest reporting period.

That marks a decline of about 36% from the end of last year, according to a report from DealSite.

Deposits Shrink from 8 Trillion Won Peak Upbit’s won deposits, which at one point exceeded 8 trillion won during the height of the crypto bull market, have now fallen to the 3 trillion won range before settling at the current level.

The outflow of idle funds suggests that retail investors are pulling back from keeping cash on the exchange, likely reflecting a broader shift in market sentiment or a move to other investment vehicles.