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TL;DR

  • Many often-quoted data sources such as CoinMarketCap and Coinhills are inaccurate and/or outdated
  • Filtering fake volume, the Bitcoin’s market dominance becomes even more obvious. Bitcoin’s true spot volume market share is estimated 70% vs nominal(reported) market share of 50%
  • China still dominates Bitcoin spot trading via USDT with almost 50% of market share. USD is second place around 20–25% while JPY and KRW hover around 10–15%

Historical charts and tables made available on bitcoinization.com (in beta)

What’s the real trading volume of Bitcoin?

This is a rather simple question but it’s very difficult to give a definitive answer at the same time. It’s no secret in the crypto space that CoinMarketCap’s reported trading volume rankings are highly manipulated and are not trustworthy data anymore. …


Many of you in the cryptocurrency community might have already noticed that a lot of positive news is coming out of Japan, especially as of late.

This contrasts greatly with the sudden closure of cryptocurrency exchanges and the general confusion in China recently, another influential market in Asia. The trading volume of Bitcoin in Japan continues to grow and has already solidified itself as the biggest Bitcoin market. This fact, alone, keeps Japan in a unique position in this space.

I wrote a Medium post on the then-soon-to-be-enacted cryptocurrency law in Japan back in March about how I was afraid that it might have negative long-term effects that nobody talks about while positive implications were undeniable. Since then, a lot has happened in Japan, and some of my concerns and predictions have already turned out to be wrong — for better or worse. So, I will revisit this issue and illustrate where I was wrong and what that means for Japan and the rest of the cryptocurrency/blockchain industry in the world. …


I came across this Forbes article regarding the popularity of cryptocurrencies in Korea the other day and found it fascinating.

I had already known that the trading volume for cryptocurrencies in Korea shot up significantly as of late but I had little clue as to what was causing or at least influencing the surge. Now, thanks to the article, I understand the Korean crypto phenomena a little bit better and also spotted interesting similarities and differences between Korean and Japanese markets in terms of altcoin popularity, general sentiment, regulation and more.

I believe these countries will be two of the more important markets for the cryptocurrency space to keep an eye on for the coming months and maybe even years as they may affect not only traders and investors but also potentially the direction of development and broader trends in the space for the foreseeable future. …

About

Koji Higashi

Bitcoiner. I mainly write about the Japanese cyrptocurrency space and projects that interest me. https://bitcoinization.com/

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