South Korean cryptocurrency exchanges, including Upbit and Bithumb, are experiencing significant earnings pressure due to a sharp decline in market activity. Daily trading volumes on these platforms have dropped to an average of $1.88 billion in early November, marking the lowest level since January 2025. This downturn is attributed to Bitcoin's fall below $95,000 and global uncertainties, which have led to reduced investor activity. Despite reporting strong profits in the third quarter, the recent market slump poses a threat to these gains. In response, exchanges have increased their token listings, adding 391 new tokens in 2025, a 47% rise compared to 2024, in an effort to boost trading volumes.