Study: most of Bitcoin is traded in Japanese yen

It is estimated which currencies are most in demand when exchanging BTC.

Investopedia, with reference to Coinhills, talks about which currency users prefer when exchanging Bitcoin, as of mid-February 2018 on the basis of information from more than 120 exchanges.

The Japanese yen (JPY) is the leader in this segment, with a share of 60%. Japan became the leader due to the move to the Japanese sites of Chinese users who were subjected to repression in their homeland.

The US dollar ranks second with a share of about 25% of the market. In 2012, the dollar was the largest player, but in 2014, the Chinese yuan pushed it to second place. And now the dollar is inferior to the Japanese yen.

The Korean Won (KRW) ranks third, with a market share of about 6,5%. The share of KRW in the BTC trade has significantly decreased since January of the year 2018, after the pressure of regulators has increased on the market.

The euro ranks fourth in the list, with a share of 5,5% kriptornka.

Less than 1% (each) are British Pound (GBP), Russian Ruble, Polish Zloty (PLN), Australian Dollar (AUD) and Turkish Lira (TRY).

The Chinese yuan no longer appears on the list of major currencies used to trade Bitcoin.

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

 

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