Upbit, Bithumb List 89 Identical Digital Assets in 20 Months, 41% of New Listings Overlap

According to Digital Asset analysis released on August 5, Upbit and Bithumb, South Korea's top two digital asset exchanges, added 89 identical digital assets between January 1, 2025, and August 4, 2026, accounting for 41% of their 217 total new listings during the period.

Bithumb responds significantly faster to Upbit listings, with a median time lag of approximately 1 hour, compared to Upbit's median of 33 days when following Bithumb. Among 42 assets where Upbit announced first and 47 where Bithumb led, competition has intensified over time, with announcement delays narrowing from 5 days in H1 2025 to approximately 2 hours by H1 2026. The shortest lag recorded was EDGE (Dfinity), at 9 minutes 10 seconds on March 4, 2026.