Svmuu News: The combined daily trading volume of South Korea’s five largest won-denominated virtual asset exchanges totaled approximately 412.7 billion won, down 88% from a year ago. The global total market capitalization of virtual assets simultaneously shrank by 41% to $2.322 trillion.Dunamu, a leader in South Korea’s crypto industry, saw its first-quarter revenue and operating profit decline by 55% and 78%, respectively, compared to the same period last year. Smaller and medium-sized exchanges are facing even tougher conditions; Coinone, Korbit, and Gopax—which already recorded operating losses last year—are expected to continue posting losses this year.Korbit has sold off its holdings three times this year, offloading 15 Bitcoin and 60 Ethereum within a 10-day period this month, raising approximately 1.6 billion won in cash. A director at Tiger Research stated that the current situation can be viewed as a “second crypto winter,” with the total crypto market capitalization shrinking significantly and virtually no new projects emerging.