Estimating China's Real Bitcoin Trading Volumes
Today, China's exchanges report 98% of global volume, a figure that would suggest a huge dominance by its markets. Unfortunately, we know that most of this volume is fake. Unlike the rest of the world, China-based exchanges are unique in that they do not charge fees on bitcoin trades. Instead they make money via withdrawal charges out of the exchange. Further, these fees reduce as your trading volume increases, so this incentivizes traders to bolster this figure by buying and selling from themselves at zero cost. Still, there's a ocean of data coming from the markets, and they hold hidden....
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Cryptocurrency trading volumes decreased significantly in June according to data from Cryptocompare, a price and volume tracking organization. Volumes traded diminished by at least 40% month-on-month, with spot and derivatives trading both suffering due to the mining and trading crackdown in China, amongst other factors. The resulting volatility seems to have made many traders lose interest. Trade Volumes Kept Falling in June Cryptocurrency trading volumes experienced a sharp decline in June, according to data from Cryptocompare. The data collected by the price and volume tracking....
The world’s largest bitcoin market saw a steep fall in trading volumes on the day in which exchanges began charging trading fees at a flat 0.2 percent from midday (Beijing time). In a 1-hour trading period after bitcoin exchanges introduced trading fees, trading volume at BTC China fell over 80%. Huobi and OkCoin, the two other exchanges that were investigated and saw discussions held with the People’s Bank of China saw declines of over 90 percent and 80 percent respectively. The drop in trading volume can be attributed to the lack of automated bitcoin trading, previously making up for a....
Japan is an interesting country when it comes to Bitcoin. Not only does Japan treat Bitcoin like money, it is all set to end the sales tax on purchases of cryptocurrencies this spring. What is more interesting lately, however, has been the surge in Bitcoin trading volumes in Japan. While China is easily the leader in Bitcoin volumes, what is going on with the Japanese volumes is an interesting story itself. It would come as no surprise that it closely mirrors the mysterious case of the Chinese volumes. A high volume euphoria. In order to understand what is going on in Japan, we talked with....
Lately, Bitcoin has been gaining momentum while the trading volumes have been growing like never before. Currently, China is leading the digital currency exchange Industry by having one of the largest concentrations of cryptocurrency exchanges and where the highest bitcoin trading volumes can be found. Most of the Chinese Bitcoin exchanges have large trading volumes. Besides the high trading volumes, some of the possible motivations leading newcomers to use Chinese exchanges are the low fees and other benefits (such as referral programs that offer up to 50%) which many Chinese exchanges....
Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%.
Crypto Trading Volumes Fall Across India
The trading volumes across crypto exchanges in India have fallen sharply after the new TDS (tax deducted at source) went into effect on July 1.
Trading volumes on major Indian crypto exchanges Wazirx, Coindcx, Zebpay, and Bitbns plunged about 83%, 70%, 76%, and over 18%, respectively, from....