Much of the crypto traffic at exchanges around the world comes from people in the United States and Japan. A recent report showed that Americans account for almost a quarter of all exchange traffic at cryptocurrency exchanges, while Japan accounts for just over 10% of the traffic. There has been an uptick in traffic over the last month because of the surge in Bitcoin trading. Let’s look at some of the latest numbers in terms of cryptocurrency traffic.
Crypto Exchange Traffic
A recent report by Larry Cermak of The Block, covered the period from November of last year to April of this year and the data came from some of the top trading exchanges. The United States in the report accounted for 24.5% of the total traffic at the exchanges, while Japan was second at 10.5 percent, and South Korea was third at 6.5%. The other countries rounding out the top five were Indonesia, and India. It should be noted, however, that some users are using VPNs to mask their identity and their country of origin, so it could be that there are far more users in countries like China who don’t want their location known. China came in at 6th in terms of countries in that survey, but that real number could be much higher. It is interesting to note that China, South Korea and India are all countries that have governments that do not support cryptocurrency.
South Korea actually banned Initial Coin Offerings in 2017 and the Financial Services Commission of their country continues to stand behind the ban. India considered a ban on cryptocurrencies but as of this writing they have not gone so far as to ban cryptocurrencies. China is similar to South Korea, as they banned ICOs a couple of years ago and they also banned crypto exchanges. The bans have not stopped people in those countries from buying and selling Bitcoin and other cryptocurrencies, as people simply use VPNs and Tether to make their trades.
Bitcoin Price Fluctuations
It has been an excellent 2019 for Bitcoin, as the price has nearly tripled from what it was at the end of 2018. Bitcoin has easily soared past the $6,000, $7,000 and $8,000 marks and it briefly got past $9,000 before going back down a bit. There have been a lot of Bitcoin price fluctuations in recent weeks and it is not uncommon to see the price rise or fall by $500 or more in short period of time, and even a surge or loss of $1,000 is not that unheard of. The big benchmark and price mark to watch in the coming weeks is $10,000, as it has a psychological impact on investors and the public at large. Once Bitcoin gets past that mark it could be that the cryptocurrency surges quickly past $11,000 and higher. Keep an eye on the Bitcoin price in the coming days and weeks, because the $10,000 mark is not that far way.
Bitcoin has had a superb few months and shows no signs of slowing down anytime soon. More and more companies are adding Bitcoin payment methods to their platforms. The latest marquee company to add Bitcoin payment methods is AT&T, as they recently announced Bitcoin payment support. Some businesses have been accepting Bitcoin for a long time including leading online sportsbook BookMaker.
They now do the bulk of their money transfers using Bitcoin and customers have been thrilled with the fast transfer times using Bitcoin. Most of the customers at BookMaker now use Bitcoin to make payments and withdrawals. More companies are following in the footsteps of BookMaker, as they don’t want to miss out on providing cryptocurrency support for their customers. It is not surprising to see companies like AT&T adding Bitcoin payment methods and it won’t be long before more companies follow suit.
Check out the latest Bitcoin deposit and withdrawal options at BookMaker today.
