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Up to 50% of the total cryptocurrency trading volume is in the Asian market

A study by Messari states that Asian traders provide about half of the world’s cryptocurrency trading. The lion’s share of transactions takes place in China, Japan, Korea, Hong Kong and Singapore. These countries provide the most liquidity to the cryptosphere. Despite the ban on crypto trading in China, it is in this country that the “bitcoin whales” are located, which perform the largest transactions with digital assets. The study authors also note: Large transactions prevail in East Asia (mainly in China), providing up to 90% of all transactions in the amount of $ 10,000 or more. East Asia is more involved in transactions with cryptocurrencies compared to North America, where the main focus is on long-term storing bitcoin. 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 trading digital assets, a large number of crypto companies and mining pools operate in Asia. For example, China alone accounts for about 65% of the bitcoin hashrate. The researchers also found that the recent drop in BTC and other coins in mid-January was triggered by Asian players, who staged a huge sale.

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