Most of the low-cost trade in Japan has pushed the country to become the world's largest market for the exchange of cryptocurrencies.
The cryptocompare data show that the Japanese yen (JPY) reaches about 43.6% of the volume of Bitcoin exchanges worldwide in the last 24 hours.
The trading volume of Bitcoin in Japan of over 97,000 BTC, which occupies the second market position thereafter, is the US dollar, which controls the market by about 25% of the global volume or about 5500 BTC. Japan also replaced the Chinese position which is now the number 3 cryptocurrency market for the first time in February, when the Chinese stock market blocked BTC's withdrawal.
The main thing that encourages the growth of Bitcoin in Japan today, the country offers an opportunity for traders to offer payments in the form of Bitcoin in various stores, both small and large traders. This will further increase consumers' awareness of the use of Bitcoin as the legitimate currency of the country.
The cryptocompare data shows that the five most active Bitcoin trading currencies are JPY, USD, CNY, KRW and EUR.
With the Japanese Yen in the tank and Japan's economy in a total doldrum, embracing cryptos as an acceptable fiat alternative makes great sense for the land of the rising sun.
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It make sense for everyone to kill off our fiat currencies. Unless you are some crooked bankster haha. We are all slaves to inflation not for much longer I think!
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