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Cryptocurrency angel fund release global cryptocurrency trading trends

Tony Zerucha

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Block0, a cryptocurrency angel fund, today released a report on worldwide crypto asset trading trends.

The report outlines the increased importance of Asian markets (Hong-Kong, China, South Korea, Japan) in daily trading volume. These markets were representing 58.1 per cent of total trading volume in Q4 2017, and they now count for 77.2 per cent (+19.1 per cent) in Q2 2018.

US trading activity fell from 30.2 per cent of global volume in Q4 2017, at a time when the mainstream market was experiencing its first interest in cryptocurrencies, to 12.7 per cent (-17.6 per cent) in Q2 2018. The total trading volume decreased from $5.9 billion in Q4 2017 to $4.9 billion in Q2 2018 due to market conditions.

“We are observing a breaking point regarding interest from Asian investors into blockchain technology startups,” Block0 founder Manu Andorra said. “Asian financial hubs such as Hong-Kong, Seoul, and Singapore are leading the pack when it comes to cryptocurrency activity.”

Block0 also learned South Korean investors signal an in-depth understanding and interest into newer cryptocurrencies than other regions. Ripple was favored in Q1 2018 with 34.3 per cent of total KRW trading volume. In Q2 EOS was favored with 32.9 per cent of KRW injected into the market. BTC got a 26.4 per cent and 18.4 per cent market share in Q1 and Q2 2018, in the Korean market.

In comparison, Western investors favor Bitcoin with 53.0 per cent of their USD, EUR, GBP moving into BTC over Q1 and Q2 of 2018.

“Block0 believes that Asian blockchain hubs will continue to dominate the market as investors and stakeholders seem more attentive to the progress and development of new blockchain protocols, and are trading on this optimism,” Block0 said in a release.

 

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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