Forex and Crypto News

The Asian market carries out 50% of all cryptocurrency trading

18:52 20 January /2021

A study by Messari says Asian traders conduct about half of the world's cryptocurrency trades. Most transactions with cryptocurrencies are carried out in China, Japan, South Korea, Hong Kong, and Singapore. These countries provide the most liquidity to the crypto sphere.

It is worth noting that despite the fact that China has a ban on crypto trading, it is in China that the largest transactions with cryptocurrency are carried out and most of the Bitcoin whales are concentrated here. Chinese traders provide 90% of all large transactions in the amount of $10000 or more.

That being said, the Asian market is an active market. There are not as many holders here as in North America. In the United States, most of the transactions with Bitcoin are made for the purpose of its further storage.

The Messari team, citing data from Chainalysis, said that over the past 12 months, the Asian market accounted for up to 43% of all digital currency transactions.

In addition to almost 50% of operations with cryptocurrency, the Asian region has collected the most number of crypto companies and mining pools. For example, China alone accounts for about 65% of the bitcoin hashrate. It was Asian players who recently staged a huge sale of bitcoin, which provoked a fall in its price.

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