À̹ÌÁö È®´ë [Photo by Han Joo-hyung]
Bithumb Korea Co., operator of South Korean crypto exchange Bithumb, reported a near 900 percent on-year surge in its first-quarter net profit on the back of virtual currency craze.
In a quarterly report on Monday, Bithumb¡¯s major stakeholder Vidente said that Bithumb Korea raised 222.5 billion won in net profit in the January-March period, up 876 percent from a year earlier, on sales of 250.2 billion won, up 458 percent.
The surge in profit was driven by a jump in trading volume on par with the country¡¯s two stock markets Kospi and Kosdaq amid investor interest.
Brokerages projected that Bithumb will report best-ever earnings this year in line with investors¡¯ frenzy for digital coins for higher returns.
Bithumb¡¯s commission rate – 0.25 percent – is higher than other crypto exchanges Coinone (0.2 percent), Cobit (0.15 percent), and Upbit (0.05 percent) in the country.
By Pulse
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]