The chinese repression of crypto-currencies has dramatically changed the overall composition of the market of Bitcoin. 60 % of exchanges of Bitcoin are currently on the japanese market, the american market and finally the south Korean market. This represents a significant share of world trade of Bitcoin.
Japan now dominates the world market of Bitcoin
Last week, news.Bitcoin.com has published an article which explained that the trading of Bitcoin in Japan accounted for about 60 % of all volume of transactions in the world. The volume of transactions in Japan rose last year, following the adoption by the japanese government of legislation to recognize the bitcoin as a means of payment legitimate. Approximately 80 % of the trading of JPY/BTC in the last 24 hours have taken place on Bitflyer and Bitflyerfx. Coincheck is currently the second-largest stock exchange in japan, accounting for about 15 % of the transactions. The third-largest stock exchange, Zaif, saves 4 % of the volume of transactions. As such, the market for Bitcoin in Japan is among the most centralized. In fact, 99 % of the volume of transactions in BTC/JPY is carried out only on three stock markets.
Journal of the Corner
The United States is in second place
The United States accounts for 25 % of world trade in crypto-currencies. During the advent of Bitcoin, the overwhelming majority of the exchanges of Bitcoin has been carried out in dollar. Following the dramatic entrance of China into the market of the Bitcoin to the end of the year 2013, the share of total trade is conducted in u.s. dollars fell to less than 10 %. Since the repression exerted by China on the operations of the margin and of crypto-currencies, the trade dollar has increased to reach about one-quarter of the entire trade.
South Korea is becoming an important actor on the market of Bitcoin
Currently, the volume of south korea represents around 9% of world trade in Bitcoin. The majority of south koreans are on Bithumb, which currently represents 65 % of the volume of trade over a period of 24 hours. Coinone and Korbit, respectively, represent approximately 17 % of the local trade. Trade BTC/EUR is the fourth largest sector the most dominant in the market of Bitcoin, including a 3.3 in the volume of trade over a period of 24 hours.
Bitcoin Central Source : News.Bitcoin