Bitcoin Price Flirts with $1000 Again; Chinese Exchanges Account for 26% of Volume


Bitcoin started off 2017 with a bang, crossing the $1000 barrier on the first day of January. Today, Bitcoin’s price is flirting with the $1000 mark once again, with a sizable portion of volume originating from Chinese exchanges Huobi, OKCoin and BTCC.

While Chinese exchanges previously dominated the global digital currency markets due to excessive margin loan trading and “no trading fee” policies, recent changes enforced by PBoC regulators have placed Chinese cryptocurrency exchanges on an even playing field with their European and American counterparts.

Data from Coinmarketcap.com shows that Huobi, OKCoin and BTCC volumes currently account for a total of 26.16 percent of global bitcoin trading; 9.78% for Huobi; 8.56% for OKCoin; 7.82% for BTCC.

Hong Kong-based Bitfinex, which was hacked to the tune of 100,000+ bitcoin in August of last year, accounts for approximately 7.89% of today’s global bitcoin turnover, which currently stands at $143.86 million.

About 5% of today’s bitcoin volume comes from Tokyo-based Coincheck; another 5% originates from San Francisco-based Kraken; and European exchange Bitstamp accounts for 4.81% of global turnover.

About Author: author Steve Todorov is the founder of Razor-Forex.com, an ardent digital currency enthusiast and Forex trader. Read More...

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