Dunamu Reports Q1 Profit of 69.5 Billion Won Amid Declining Trading Volume

Dunamu reported a significant decline in its financial performance, with a nearly 80% drop compared to last year. This downturn is attributed to a decrease in trading volume in the virtual asset market amid global economic slowdown.

In the first quarter of this year, Dunamu recorded a net profit of 69.5 billion won, marking a 78.3% decrease from the same period last year.

The decline in performance is largely influenced by global risks, including the conflict between the United States and Iran, which have led to reduced trading volumes in the virtual asset market. Since the major liquidation crisis in October of last year, the downturn in the virtual asset market has persisted. Upbit's cumulative trading volume for the first quarter of this year was $141 billion, down 62.3% from the previous year. The influx of investment funds into the domestic stock market, driven by a booming stock market, has also contributed to the contraction of the virtual asset market.

Domestic virtual asset exchanges rely heavily on transaction fee revenue, with dependence reaching 99%, making the reduction in trading volume directly linked to deteriorating financial results. Dunamu plans to seek a rebound through service enhancements, expanding partnerships, and exploring new business opportunities.