South Korean cryptocurrency exchanges have experienced a significant 30% drop in trading volumes over the past three months, with figures falling from $4.41 billion in August to $2.91 billion in November. This decline mirrors the recent downturn in Bitcoin prices, which has impacted trading activity. Given that 98% of exchange revenue is derived from trading fees, this slump poses a threat to fourth-quarter earnings. Analysts caution that the reduced trading activity and declining prices could negatively affect the financial results at the end of the year.