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JPY surpasses USD to trade bitcoin

Japan has been developing the world’s most advanced regulatory system for cryptocurrencies.

JPY now seems to be outpacing the USD in terms of bitcoin trading volumes in the world. Approximately, a sum of 490,950 BTCs has been transacted against the JPY so far last day’s trading sessions.

Bitcoin trading volume has been witnessed over 49 percent against the JPY amid the lingering optimism of Japan’s regulators’ approval of Cryptocurrency ETFs after their declining of futures trading, whereas the USD accounts for shy above 45.50 percent, as per the Coinhills.

In terms of volumes, the Korean Won, the Euro, and the British pound are the front-runners in Bitcoin fiat trading race.

While Japanese financial services company, SBI Holdings proclaims that they are the largest outside shareholder in R3, accounting for about 60 percent stake in the venture. They also stated that the venture has been unveiled with an investment of around 500 million Japanese yen. Courtesy: Coinhills

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -140 levels (which is bearish), while hourly JPY is at 0 (absolutely neutral) and hourly USD spot index was at -44 (bearish) while articulating (at 10:11 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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