Japan Tops Bitcoin Trade Volumes Again As Poland Takes...

Japan Tops Bitcoin Trade Volumes Again As Poland Takes Surprise 6th Place


- Advertisment -

Japan’s mostly zero-fee trading has propelled it back to poll position in the world for exchanging the cryptocurrency.

Data from CryptoCompare shows the Japanese yen (JPY) accounting for a huge 43.6 percent of Bitcoin trading volumes globally over the past 24 hours.

Japan’s volume – over 97,000 BTC – dwarf those of the number two market the US dollar, which consumes another 25 percent of the total, or 55,800 BTC.

Japan had superseded China, which is now the number three market, for the first time in February as Chinese exchanges halted BTC withdrawals. After further market reshuffles, the allure of fee-free trading and tax breaks continues to produce major activity in the country.

China, by contrast, is no longer offering free trades as part of its newly-regulated cryptocurrency environment.

A major push is underway in Japan to increase ‘on the ground’ consumer awareness and use of Bitcoin as a currency, with retailers gaining the opportunity to offer Bitcoin payments in brick and mortar outlets.

Elsewhere, CryptoCompare’s listings produce some surprising results. The top five most active Bitcoin trading currencies – JPY, USD, CNY, KRW and EUR – are followed by Poland’s zloty (PLN), which has seen 858 BTC traded in 24 hours.

The figures are larger than of the UK pound (GBP), Australian dollar (AUD), Canadian dollar (CAD) and Russian ruble (RUB).

Source link

Latest news

CubeBit has come forward to sponsor Future Blockchain Summit 2020

November-18-20 - CubeBit 2.0 has come forward to sponsor Future Blockchain Summit 2020. The event will be...

Using Blockchain to Fight Climate Change, MOSS is changing the Narrative

The effects of global climate change are not undeniable. From glaciers shrinking to flooding, temperature rise, and...

DeFi Tokens Still Bullish with Triple-Digit Prospects Amidst the Bitcoin Rally

The Decentralized Finance (DeFi) market seems to have reclaimed its bullish status in the ongoing crypto market...

Bitcoin Security Lessons from The KuCoin Cryptocurrency Exchange Hack

It is a recent but not new happening that a hot wallet from a crypto agency has...
- Advertisement -

Facebook’s long-awaited Libra is Coming in January 2021

In a more limited form, the Libra Association's projects are being implemented. It will only launch a...

Polkadex Enhances the Cryptocurrency Trading Experience

The global economy has not entered the modern era as of yet. Luckily, there are tools to...

Must read

- Advertisement -

Read Next
Recommended to you