UK Banks’ Obsoleteness at Root of Small BTC/GBP Trading Volume
Despite being the fifth largest economy in the world, the United Kingdom has a relatively small BTC/GBP trading volume ratio. Banks refusal to deal with Bitcoin companies is at the heart of the problem. BTC/GBP trading pair. At first glance, the BTC/GBP trading pair would seem to be doing very well - it’s the sixth largest trading pair, accounting for 0.21% of Bitcoin’s total trading volume, 2,636.83 BTC or US$1,178,280.73, surpassed only by the BTC/CNY, JPY, USD, EUR, and RUB trading pairs. However, given that, according to a report by CoinDesk, 32.99% of Bitcoin users are based in....
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The vast majority of bitcoin trading volume has traditionally been handled by a relatively small number of exchanges. However, the latest data indicates that volume has concentrated even further as smaller exchanges are being pushed aside, leaving them with a much lower share of the total volume of bitcoins traded than just a few months ago. Lost monopoly. Prior to the start of its decline in mid-2013, Mt. Gox had what amounted to an effective monopoly on bitcoin trading volume, often commanding upwards of 80-90% of total US dollar-denominated volume. However, as Mt. Gox's problems....
A Forbes analysis of 157 exchanges revealed Bitcoin trading volume may not match up to what the companies claim, particularly if they're small or unregulated. Bitcoin trading data from 157 exchanges reportedly did not match up to what companies claimed.According to an Aug. 26 report from Forbes, Javier Pax of the news outlet’s digital asset arm said there was a mismatch between the Bitcoin (BTC) trading data reported by crypto exchanges and the actual numbers. The Forbes contributor found that a group of small exchanges had BTC trading volumes roughly 95% less than those reported, while....
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