Asia can be rightly called a Crypto Landscape

Asia can be rightly called a Crypto Landscape
Recent statistics confirm that Asia controls several important areas and crypto markets.
Panoramic night scene of Kuala Lumpur

Messari analysts today published an extensive study proving that Asia is a country with a major influence on cryptocurrencies.

As you know Japan, Shanghai, and Hong Kong are among the top five largest stock markets in the world. Therefore, it was highly probable that with such a high concentration of investors, companies would also become interested in the nascent cryptocurrency industry.

As a result, Asian companies dominated the crypto futures market, accounting for 98% of ETH and 94% of BTC futures volumes.

Other data confirming the importance of Asia in the cryptocurrency sector are statistics from Chainalysis, which showed that as of the last 12 months ending in June 2020, Asia accounted for 43% of global cryptocurrency activity, or $ 296B in transactions.

As for the division of the country, East Asia is dominated by larger trades and 90% of these trades are above $ 10K. Traders prefer short-term trades with a wider range of assets. Central and Southern Asia, and Oceania control about 15-22% of transactions under $ 10K.

Let us also not forget that, according to the latest survey, China controls up to 65% of Bitcoin’s hashrate, which is a high difference compared to other countries such as the U.S. in second place with 7.24%.

Read also: Miami plans to allow its citizens to pay city taxes in Bitcoin

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