March 29, 2023

Tezos and Cosmos became the most popular projects in Japan

A new study by Crypto Network Asia revealed that Tezos and Cosmos cryptocurrency projects became the most popular in Japan. Also in the local cryptocurrency media, Nem and Lisk projects are often mentioned.

Interestingly, Tezos and Cosmos are not represented atJapanese cryptocurrency exchanges, while Nem cryptocurrency is traded on three local sites at once. As expected, absolutely all exchanges have the opportunity to trade BTC, ETH and XRP. Also popular are BCH and LTC coins. To trade other popular cryptocurrencies, Japanese citizens need to choose a specific platform.

Researchers also interviewed Japanese traders. As it turned out, most of them trade bitcoin on a monthly basis, and only a quarter of respondents do it every week. As for altcoin trading, the vast majority of traders turn to such coins at least once a month. Japanese traders look positively at the future of cryptocurrencies, however, the majority of respondents said that they expect a decrease in the bitcoin rate to $ 3,500 rather than an increase to $ 7,500.

At the moment, Japan takes 4th place inBitcoin trading volume for the national currency. About 8.8% of all transactions with fiat currencies occur in the country. The first place with a result of 43.8% is held by China, but traders there use USDT stablecoin to exchange for bitcoins. The United States came in second and South Korea came in third.

Recently it was reported that the financial agencyJapan Services (FSA) launched the Blockchain Governance Initiative Network (BGIN) initiative, which will contribute to the country's “sustainable blockchain industry”.