The US, Japan Are Top Sources of Traffic to Cryptocurrency Exchanges Globally: Study

The United States is the main source of the traffic to cryptocurrencies worldwide, Cointelegraph Japan reported on June 1.

The study published the cryptographic journal The Block on May 31. The study shows that 24.5% of the total traffic intended for encrypted exchanges comes from the United States. Japan is second with 10% of total turnover, while South Korea 6.5% and Indonesia about 4.5%.

However, as Blok points out, some countries - for example, China - block access to cryptocurrencies and users of these sites usually have access to virtual private networks (VPNs). VPNs hide the IP addresses of users, which makes them appear to come from another country, which reduces the accuracy of this study.

Finally, Blok claims that it has found a positive correlation between gross domestic product per capita and the volume of Internet traffic intended for an exchange of cryptocurrencies. The report states:

"The data show that the poorest countries do not trade crypts as much as the richest countries."

As Cointelegraph mentioned earlier this week, Bitwise Asset Management, an American cryptographic investment manager, has published an article claiming that bogus volumes encrypted by cryptographic exchanges did not affect bitcoin pricing (BTC).

Starting of this month, it was announced that the Japanese Financial Services Agency would crack down on cryptographic exchanges by offering anonymous transactions or weak identity verification practices in anticipation of the Group's inspection. Action this fall.


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