Japan Cryptocurrency Trading Stats

Cryptocurrency exchange data provided by members to the Japan Virtual Currency Exchange Association (JVCEA) for March 2021 continues to show an strong dependence on Bitcoin trading volumes.

In fact, out of 29 white-listed coins, only five — namely BTC, ETH, XRP, XEM and QTUM — come near a 2% market share. Coins outside of the top ten make up merely 1.2% of trading volume by value.

Also, across the whole ecosystem of 27 JVCEA members, the coins outside of the top ten muster just 28 listings, i.e. they have basically been sponsored by a single exchange each.

Ripples position in Japan sticks out, given the regulatory action against the company and its founders/management in the United States. With SBI heavily invested in and supporting the Ripple ecosystem, XRP trails only Bitcoin, Bitcoin Cash and Ethereum in the number of exchange listings.

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