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Bitget Research has released a report on the growing crypto and Web3 market in Japan, with over 350,000 daily traders. Here is the current data overview and future forecasts on the Japanese situation. Bitget and the crypto market in Japan on the rise: over 350,000 daily traders Bitget Research has released its report on the growing crypto and Web3 market in Japan, with daily traders surpassing the threshold of 350,000. Only with this data, Japan is positioned today between the dimensions of the crypto market of Turkey and Indonesia and about two-thirds of those of South Korea.  Other important data from the report indicate that the adoption rates of CeFi and DeFi in the Japanese market are more or less equal, while the use of P2P trading is significantly lower than the global average. Not only that, Japanese users also perform in trading of NFT and in the use of decentralized exchanges (DEX), showing a strong preference for blockchain-based platforms and metaverse games. Furthermore, the market favors spot trading over derivatives, focusing mainly on tokens of mainstream and local projects, with a high interest in established projects. In fact, Japanese users prefer spot trading of crypto such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL) and Dogecoin (DOGE), as well as tokens of local projects. In this regard, Gracy Chen, Managing Director of Bitget, commented as follows: “Japan, with its high sensitivity to cryptocurrencies, is a dynamic and rapidly evolving landscape. The research highlights the significant opportunities and trends within the cryptospace, making it a hotbed of emerging technology and mass adoption. We will continue to identify and support the growth and innovation potential of these markets”. Bitget Research and the crypto market in Japan: future forecasts Bitget Research has then released five main predictions for the future of…

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Filed under: News - @ July 8, 2024 11:22 pm