Coins: 17,175
Exchanges: 1,249
Market Cap: $3.257T 3.6%
24h Vol: $110.431B
Gas: 0.961 GWEI
Go Ad-free
Market Coverage
TABLE OF CONTENTS

Top Thailand Crypto Exchanges, by Market Share & Trading Volume

4.9
| by
Shaun Paul Lee
-

What is the Biggest Thailand Crypto Exchange?

Bitkub is the biggest crypto exchange in Thailand with 75.4% market share across the top 4 Thai centralized crypto exchanges, and has an annual trading volume of $28.6 billion in 2022. In comparison, its closest competitor Zipmex generated $5.6 billion in annual volume. This accounts for a massive $23 billion lead ahead of the second place. 

At its peak in April 2022, Bitkub was generating $4.2 billion in monthly volume – close to 4 times more than Zipmex at the time, with a monthly volume of $1.1 billion. Daily volume peaked in the same month, on April 1, to $442.8 million. Since then, monthly trading volume on Bitkub dropped to an annual low by year-end, to $758.2 million, in line with the crypto market downturn and macroeconomic trends.

Market Share of Thailand Crypto Exchanges

Market share of the 4 largest crypto exchanges in Thailand, according to 2022 trading volume

Thailand Crypto Exchange Market Share Total Trading Volume (USD)
Bitkub 75.44% $28,625,420,529
Zipmex 14.78% $5,609,036,365
Bitazza 8.52% $3,234,721,648
Satang Pro 1.25% $475,565,247

 

Bitazza Grows in Market Share

Bitazza launched its digital asset platform on March 21, 2022 and saw $238.5 million in monthly trading volume within the same month, taking the third spot in terms of market share. When trading volume on Zipmex faltered in June, Bitazza leapfrogged into second place in market share, reaching its peak volume of $473.0 million that month. Zipmex paused withdrawals since July, citing market volatility, which led to a loss in trust, and a decline in trading volume.

Bitazza reached an all-time-high in daily trading volume of $34.2 million in May 2022, amid the Terra collapse. The exchange has since fallen to a low of $222.6 million in monthly trading volume by the end of 2022, the lowest it has been since its launch.

What is the Monthly Trading Volume for Thai Crypto Exchanges?

Monthly trading volume across the four Thai centralized cryptocurrency exchanges reached a high of $5.8 billion in April, growing a healthy 19% since the start of 2022. Daily trading volume across the exchanges also peaked in the same month, reaching $516.1 million. 

Following the events that transpired throughout the remainder of the year, volume dwindled to an annual low in December to $1.0 billion. This marks a 79% drop in 2022 itself, in line with major crypto exchanges globally that saw total trading volumes fall $0.88 trillion, by year end.

Methodology

This study examines the trading volume, in USD, of Thai centralized cryptocurrency exchanges listed on CoinGecko, namely Bitkub, Zipmex, Bitazza and Satang Pro, from January 1, 2022 to December 31, 2022. These 4 Thai crypto exchanges make up the majority of trading volume, out of 9 exchanges with Digital Asset Exchanges licenses issued by the Securities and Exchange Commission of Thailand.

If you use these insights, we would appreciate a link credit to this article on CoinGecko. A link credit allows us to keep supplying you with future data-led content that you may find useful.


How do cryptocurrency exchanges work?

Cryptocurrency exchanges act as an intermediary between users, allowing them to buy, sell, and trade cryptocurrencies like BitcoinEther, among others, and faciliate the transaction while taking a small service fee. The user's crypto assets and funds are typically safeguarded and held in custody by the centralized crypto exchange.

Binance, OKX, Crypto.com, Coinbase and Kraken are some examples of popular crypto exchanges globally, and Bitkub, Zipmex, Bitazza and Satang Pro are some notable crypto exchanges in Thailand.


Curious to know more about the state of crypto in 2022? Check out our comprehensive 2022 Annual Crypto Industry Report, that extensively covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, DeFi and NFT ecosystems, and more!

CoinGecko's Content Editorial Guidelines
CoinGecko’s content aims to demystify the crypto industry. While certain posts you see may be sponsored, we strive to uphold the highest standards of editorial quality and integrity, and do not publish any content that has not been vetted by our editors.
Learn more
Want to be the first to know about upcoming airdrops?
Subscribe to the CoinGecko Daily Newsletter!
Join 600,000+ crypto enthusiasts, traders, and degens in getting the latest crypto news, articles, videos, and reports by subscribing to our FREE newsletter.
Tell us how much you like this article!
Vote count: 12
Shaun Paul Lee
Shaun Paul Lee
Shaun is a Research Analyst at CoinGecko, who has lived and breathed crypto since 2017. Previously a community manager for Synthetix and RedFOX, he dived down the crypto rabbit hole to grasp a better understanding of the industry. He now spends copious amounts of time on Crypto Twitter and Telegram, searching for the next idea for CoinGecko Research. Follow the author on Twitter @ShaunPaulLee

More Articles

Select Currency
Suggested Currencies
USD
US Dollar
IDR
Indonesian Rupiah
TWD
New Taiwan Dollar
EUR
Euro
KRW
South Korean Won
JPY
Japanese Yen
RUB
Russian Ruble
CNY
Chinese Yuan
Fiat Currencies
AED
United Arab Emirates Dirham
ARS
Argentine Peso
AUD
Australian Dollar
BDT
Bangladeshi Taka
BHD
Bahraini Dinar
BMD
Bermudian Dollar
BRL
Brazil Real
CAD
Canadian Dollar
CHF
Swiss Franc
CLP
Chilean Peso
CZK
Czech Koruna
DKK
Danish Krone
GBP
British Pound Sterling
GEL
Georgian Lari
HKD
Hong Kong Dollar
HUF
Hungarian Forint
ILS
Israeli New Shekel
INR
Indian Rupee
KWD
Kuwaiti Dinar
LKR
Sri Lankan Rupee
MMK
Burmese Kyat
MXN
Mexican Peso
MYR
Malaysian Ringgit
NGN
Nigerian Naira
NOK
Norwegian Krone
NZD
New Zealand Dollar
PHP
Philippine Peso
PKR
Pakistani Rupee
PLN
Polish Zloty
SAR
Saudi Riyal
SEK
Swedish Krona
SGD
Singapore Dollar
THB
Thai Baht
TRY
Turkish Lira
UAH
Ukrainian hryvnia
VEF
Venezuelan bolívar fuerte
VND
Vietnamese đồng
ZAR
South African Rand
XDR
IMF Special Drawing Rights
Cryptocurrencies
BTC
Bitcoin
ETH
Ether
LTC
Litecoin
BCH
Bitcoin Cash
BNB
Binance Coin
EOS
EOS
XRP
XRP
XLM
Lumens
LINK
Chainlink
DOT
Polkadot
YFI
Yearn.finance
Bitcoin Units
BITS
Bits
SATS
Satoshi
Commodities
XAG
Silver - Troy Ounce
XAU
Gold - Troy Ounce
Select Language
Popular Languages
EN
English
RU
Русский
DE
Deutsch
PL
język polski
ES
Español
VI
Tiếng việt
FR
Français
PT
Português
All Languages
AR
العربية
BG
български
CS
čeština
DA
dansk
EL
Ελληνικά
FI
suomen kieli
HE
עִבְרִית
HI
हिंदी
HR
hrvatski
HU
Magyar nyelv
ID
Bahasa Indonesia
IT
Italiano
JA
日本語
KO
한국어
LT
lietuvių kalba
NL
Nederlands
NO
norsk
RO
Limba română
SK
slovenský jazyk
SL
slovenski jezik
SV
Svenska
TH
ภาษาไทย
TR
Türkçe
UK
украї́нська мо́ва
ZH
简体中文
ZH-TW
繁體中文
Log in
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Forgot your password?
Didn't receive confirmation instructions?
Resend confirmation instructions
Sign up
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Password must contain at least 8 characters including 1 uppercase letter, 1 lowercase letter, 1 number, and 1 special character
Didn't receive confirmation instructions?
Resend confirmation instructions
Forgot your password?
You will receive an email with instructions on how to reset your password in a few minutes.
Resend confirmation instructions
You will receive an email with instructions for how to confirm your email address in a few minutes.
Get the CoinGecko app.
Scan this QR code to download the app now App QR Code Or check it out in the app stores
coingecko
Continue in app
Track prices in real-time
Open App