Mesari Report “Asia accounts for half of the world’s cryptocurrency transactions…US and Europe combined”
It is analyzed that Asia accounts for half of the world’s cryptocurrency transactions, and China, in particular, has the largest cryptocurrency market.
On the 20th (local time), Cointelegraph cited data from Mesari, a cryptocurrency market data analyst, and reported that Asia, centering on China, accounted for half of the world’s cryptocurrency transactions, reaching the size of the United States and Europe combined.
According to the report, six of the top 10 cryptocurrency companies are based in Asia. It was analyzed that advanced cryptocurrency countries such as China, Japan, Korea, Hong Kong, and Singapore have great liquidity, and other Asian countries also have considerable potential.
For one year until June of last year, Asia accounted for 43% of the world’s cryptocurrency activities, reaching nearly $300 billion. 90% of the total volume in East Asia is over $10,000, mostly in China.
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Regarding this, Mira Christanto, Mesari Data Analyst, said, “Investors in North America are focusing on long-term holdings of bitcoin, while investors in East Asia are participating in short-term trading of various cryptocurrencies.” Diagnosed the trait.
Cryptocurrencies based in Asia, such as Tron (TRX), EOS (EOS), and Binance Coin (BNB), are also at the top of the market cap.
In addition, bitcoin futures transactions provided by Asian exchanges occupy 98% of all transactions, and Ethereum (ETH) transactions occupy 94%, so the cryptocurrency market can be said to be the sole stage of Asian-based exchanges, especially Chinese exchanges. The local exchanges were also shown to be active in introducing new services.
Meanwhile, China’s central bank digital currency (CBDC) development movement is also remarkable. China, which is active in issuing CBDC, has entered the stage of pilot operation and diffusion of digital yuan.
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