PANews reported on November 17th, citing The Korea Times, that South Korean cryptocurrency exchanges are facing profit pressure due to declining trading volume caused by a weakening market. Upbit's operator, Dunamu, reported Q3 operating profit of 235.3 billion won, a 180% year-on-year increase, with revenue of 385.9 billion won and net profit of 239 billion won. Bithumb reported operating profit of 70.1 billion won, revenue of 196 billion won, and net profit of 105.4 billion won. Bitcoin has fallen approximately 25% from its October high, and the average daily trading volume of Upbit and Bithumb in November dropped to $1.88 billion, the lowest this year. Transaction fees account for approximately 98% of the two exchanges' revenue. They have recently accelerated the listing of new tokens to boost activity, but overall trading volume remains weak.