New GreySpark Study Reveals USD Is Most Traded Fiat Against Cryptos
While it may look like the United States are losing their edge on the crypto market for the Asian markets, the truth is that most of the fiat-to-crypto trading in the world happens using USD. A new study made by the consulting firm GreySpark has found out that the USD is the most commonly used fiat in this type of transaction.
The study was focused on the recent popularity of the cryptos and it has found several things. One of them is that it was discovered that the price of the tokens was related to Google search interest. The more people looked for Bitcoin, the most valuable it became.
It was also discovered that more than 20 different coins had a market capitalization of over $1 billion USD when the market was at its highest point ever. USD was the most traded against the likes of BTC and ETH.
The research has also divided countries for their harshness on crypto. While Australia, South Korea, Switzerland and Japan were the ones most quick to adopt a proper regulation and promote cryptos, Canada, the United States, Russia and other countries are proceeding with more caution and still do not have a clear answer.
Some countries like China and Colombia, however, have taken a very aggressive stance against cryptocurrencies and have banned or restricted then. China imposes several restrictions on the crypto usage while Colombia has banned them all.
It is interesting to notice that, despite the great usage of BTC, GreySpark also noticed that people in the United States lacked trust for custodian solutions in the crypto industry and this may be one of the main reasons why the country is being slow to decide how to proceed.
Finally, it was also noticed that the interest on cryptos has risen lately and that it looks like 42 percent of the world’s Top 50 universities are starting to offer at least one crypto or blockchain-related course.