South Korea’s major cryptocurrency exchanges support coin counts comparable to the world’s largest platforms, despite handling much lower trading volumes. Bithumb supported 474 cryptocurrencies at the end of July, just seven fewer than Binance’s 481, while Coinone supported 375 and Upbit 341. Binance serves 300 million users and recorded about $7.379 billion in 24-hour trading volume through 3:20 p.m., compared with Bithumb’s $349.22 million. The high listing totals reflect Korean exchanges’ reliance on domestic spot-trading fees, with volatile new altcoins used to increase turnover. The five won-based exchanges added 163 coins this year and removed 113, continuing a cycle that has seen some assets delisted within months. From 2022 through the end of July this year — Aug. 18 for Bithumb — they listed 1,236 altcoins and delisted 430. Critics and an industry official questioned whether exchanges adequately screen risks before listings.