Very few people are aware of how many Bitcoin exchanges there are over in Japan, as the Land of the Risin Sun is not often mentioned about digital currency. Zaif is one of those illuster exchanges who deal with Bitcoin in the country, and they are on the right track to set some new records throughout the coming months.
Also read: A Rare Appearance By The Bitcoin Jet
Little over a week ago, the Zaif exchange noted a healthy increase in their Bitcoin trading volume. With over 33,000 BTC changing hands in a 24-hour period, previous records were shattered, and a boost in Bitcoin enthusiasm across Japan was noted. But the fun didn’t end there for the exchange, as things got even better later that evening.
When everything was said and done, Zaif noted a total volume of over 45,000 Bitcoin by the end of April 7th, which was an unexpected amount, to say the least. These high numbers lead to a thorough investigation by the exchange’s staff, just to determine where most of the trading volume was coming from.
As one would come to expect, almost 65% of the trading volume came from within Japan itself, which shows a significant boost in digital currency adoption in the region. Whether or not this is due to Bitcoin being looked at as an investment vehicle, or perhaps a sign of things to come for digital currency in the country remains anybody’s guess right now.
The remainder of that trading volume came from all over the world, without any clear leaders establishing a presence in the charts. But what was a real shocker is how Zaif almost equalled as much volume as the top Chinese Bitcoin exchanges, which have a firm grip on the digital currency markets for quite some time now.
It is always good to see different exchanges pop up with high trading volume now and then. Zaif will be on a lot of people’s radar from now on as they are a driving force for Bitcoin interest in Japan. Competition in the Bitcoin exchange space is always positive, as the consumers will be the ones benefiting from that battle.
Source: Zaif
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Solana's (SOL) meteoric rise surprised the crypto world, leaving many investors feeling they missed out…
The SOL price has surged to well over $200 as its market capitalization exceeded $100…
When the XRP price shot past $3 in 2018, it carved its place as a…
BlockDAG Drops a Huge 100% Bonus in the Bull Run As Cutoshi Presale Heats Up!…
Memes have been on fire lately, with Solana newcomers Peanut The Squirrel and Act 1:…
Cardano price has lit up the crypto world with a dramatic 50% price surge that…
