Over 72% of Crypto Trading Volume Are From Asian Markets; XRP & EOS Lead Investments
Reports Indicate That Asian Investors Make Up Over 72% Of Crypto Trading Volume
According to a fresh report released by Block0, investors who reside in Asia contribute almost 70% of all virtual asset trading volume. This is according to the investment group which concentrates on reporting on blockchain based ventures.
The report indicates that Asian markets, which comprise of South Korea, Hong Kong, Japan as well as China made up approximately 58% of the entire trading volume in the fourth quarter of last year. The figure has already jumped to over 77% in the second quarter of 2018.
I just published “Asian investors make it rain 💫🚀” https://t.co/YV8k3drfPi
— Manu (@manu_andorra) August 6, 2018
The Declining Trading Activities In The US
It is however interesting to note that trading activities in the United States declined by about 17% in the fourth quarter of 2017 to just about 12% in the second quarter of 2018. The study further asserts that a number of investors in Asia, and in particular those from South Korea, appear to have diverse portfolios that indicate possibilities of the presence of altcoins which are not popular, verses their counterparts in Europe and America.
During the first six months of this year, investors in the West had over 50% of their fiat currencies invested in BTC. On the other hand, those from South Korea invested about 34% of KRW in Ripple in the first quarter as well as 32% of KRW in EOS in the second quarter of 2018.
The study clearly indicates an interesting connection to fresh research which found out that eight percent of Americans currently put their money in cryptos, with 41% asserting that they will never invest in virtual assets. Even though it is risky to invest in cryptos, some nations have fast embraced cryptos as a means of escaping from price increases and depreciation of their currencies.