Japanese Bitcoin Exchange Trading Volume Hits Record High

Cryptocurrencies are rarely mentioned in Japan, so few people know that there are several Bitcoin exchanges in the country. Zaif is one of them, and it is expected to set new records for Bitcoin trading volume in the coming months.

Zaif Bitcoin trading volume may rise significantly

On April 7, the Zaif exchange traded more than 45,000 bitcoins in one day, which is unprecedented. The exchange staff conducted a thorough investigation into the high trading volume to find out the main reason.

As one might expect, 65% of this volume came from Japan itself, which indicates that Japan is becoming more accepting of digital currencies. It is unclear whether Japanese citizens view Bitcoin as an investment tool or a signal of the future development of digital currencies.

The remaining 35% of the exchange’s trading volume comes from other countries around the world, but compared to Japan itself, its Bitcoin trading volume is not comparable. But what is really shocking is that China’s top Bitcoin exchanges have had a firm grasp on the Bitcoin digital currency market for quite some time, and Zaif’s Bitcoin trading volume is comparable to that of China’s top Bitcoin exchanges.

From time to time, multiple exchanges with huge trading volumes have sprung up, which is a good phenomenon in itself. Zaif will also appear on many people's radars while promoting the progress of the Japanese Bitcoin industry. The competition between exchanges is quite fierce, and users will be the ultimate beneficiaries of this "war".