I noticed a while ago on that Japan accounts for 60% of BTC volumes which surprised me because I thought Korea would be top.
Digging deeper it seems CoinMarketCap understates BTC volumes on Bitflyer, the largest Japanese exchange, by a wide margin – $265,000,000 on CMC vs. ~$2,500,000,000 in the last 24 hours
CMC are only taking the volume of BTCJPY traded on Bitflyer's main site and missing the volume on Bitflyer Lightning. Think of it like only getting volume data from Coinbase and not GDAX.
Once I realised this I started being more active in the Japanese crypto spheres and noticed they're into some coins like MONA which aren't nearly as on Reddit. They're also huge on Binance (since the domestic exchanges don't provide access to that many alts) which implies their trading presence extends far beyond the JPY pairs.
I'm currently writing a report based on my findings for some clients. It's focused on uncovering tokens that are gaining interest with the Japanese crowd but aren't on the radar of Western investors. If you're interested I can share partial results when it's done, like a list of the most talked about cryptos in Japan. Any other info you'd be interested in?
TL;DR: • Japan is bigger in cryptos than I thought • They look at some different coins than Reddit • I'll share a report I'm writing if anyone's interested
submitted by
