U.S. and Japan lead global crypto exchange traffic (but not per capita...)

02 Jun, 2019
by David Robb
U.S. and Japan lead global crypto exchange traffic (but not per capita...)

Recent data from The Block shows that the U.S. and Japan are the world's two leading countries in terms of traffic on crypto exchanges. Adjusting these figures for population, however, gives a slightly more interesting analysis.

Data was gathered over the last 6 months for the top 48 crypto exchanges. The U.S. accounts for 24.5 percent of traffic, while 10 percent of global traffic on crypto exchanges is from users based in Japan. Not far behind were South Korea, Indonesia, and India. Together, the top 5 account for around half of the global crypto exchange traffic.

Given the populations of the U.S. and Japan, it shouldn't be too surprising that they are leading the way. Other large nations are mostly lagging behind in terms of economic development, or in the case of China are suppressing use of crypto trading platforms in a way that makes accurate data hard to come by.

If the amount of traffic is calculated relative to population, the picture looks slightly different. South Korea still has a huge amount of interest, but a resident of Switzerland and Singapore is more likely to visit a crypto exchange than someone in the U.S. or Japan.

Wealth is likely a major contributing factor. If GDP per capita is also brought into the equation, the data clearly shows that citizens of richer countries are much more likely to be interested in crypto than those from poorer nations.

We've seen the appeal that crypto has had for Venezuelan citizens facing hyper-inflation and economic uncertainty. So, should more of an effort be made to educate poorer nations on the benefits of crypto?

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