Connect with us

Published

on

Table of Contents

Bitcoin Trading in Japan Increases Due to the Sluggish Yen

Liputan6.com, Jakarta Since the Federal Reserve (The Fed) started aggressive interest rate hikes in March 2022, yen Japan has depreciated sharply, registering one of the most severe exchange rate volatility on record.

The volatility of the Yen has led traders from Japan-focused digital asset exchanges to turn to bitcoin (BTC), the world’s leading cryptocurrency by market value, which is widely touted as a hedge against traditional finance.

Advertisement

As a result of this, Bitcoin trading in Japan has increased. The share of bitcoin trading volume on Japanese exchanges rose from 69 percent to 80 percent in the first six months of this year, according to data tracked by Paris-based firm Kaiko.

The total trading volume on Japanese stock exchanges was USD 4 billion or equivalent to IDR 60.2 trillion (assuming an exchange rate of IDR 15,056 per US dollar) in June, an increase of 60 percent year on year.

The share of bitcoin and Japanese yen (BTC/JPY) trading pairs in total volume in trading pairs has also increased from 4 percent to 11 percent this year.

YOU MAY HAVE MISSED:
Crypto Prices Today July 17, 2023: Bitcoin and Ethereum Are Back in the Green

Bitcoin As a Hedging Asset

Advertisement

Bitcoin is widely considered digital gold and a hedge against traditional finance and fiat currency, which are said to have no intrinsic or fixed value and are not backed by any tangible assets.

Citizens of countries laden with inflation and fiat currency volatility have previously opted for digital assets. Bitcoin has jumped 84 percent to more than USD 30,000 or equivalent to Rp. 451.6 million this year.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

Advertisement

Bitcoin Trading in Japan Increases Due to the Sluggish Yen

Follow TODAYSGIST on Google News  and receive alerts for the main trending news on cryptocurrency, market trends, upcoming events, predictions, sanctions and lots more!

SHARE POST AND EARN REWARDS:

Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program

FIRST TIME REACTIONS:

Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.

JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >

Advertisement
YOU MAY HAVE MISSED:
Tracing What is NFT and Its Use
#Bitcoin #Trading #Japan #Increases #Due #Sluggish #Yen
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest News

Pokemon jpg Pokemon jpg
News2 months ago

The series has a new comedy cartoon spin-off

The series has a new comedy cartoon spin-off – The Pokémon anime has been a fixture in popular culture for...

Japan Open : Gregoria Advances, Praveen/Melati Eliminates Japan Open : Gregoria Advances, Praveen/Melati Eliminates
Sports2 months ago

Japan Open 2023: Gregoria Advances, Praveen/Melati Eliminates

Japan Open 2023: Gregoria Advances, Praveen/Melati Eliminates Jakarta, Beritasatu.com – Two Indonesian representatives experienced different fates in the round of...

Here's the Development of the Former West Ham Goalkeeper Fainting Here's the Development of the Former West Ham Goalkeeper Fainting
Sports2 months ago

Here’s the Development of the Former West Ham Goalkeeper Fainting While Being a Commentator

Here’s the Development of the Former West Ham Goalkeeper Fainting While Being a Commentator Here’s the Development of the Former...

Japan Open : Chico and Ahsan/Hendra Struggle, Apriyani/Fadia Are Stuck Japan Open : Chico and Ahsan/Hendra Struggle, Apriyani/Fadia Are Stuck
Sports2 months ago

Japan Open 2023: Chico and Ahsan/Hendra Struggle, Apriyani/Fadia Are Stuck

Japan Open 2023: Chico and Ahsan/Hendra Struggle, Apriyani/Fadia Are Stuck Jakarta, Beritasatu.com – Men’s singles Chico Aura Dwi Wardoyo and...

Manchester United Fans Reveal MU Scenario Can Recruit Harry Kane Manchester United Fans Reveal MU Scenario Can Recruit Harry Kane
Sports2 months ago

PSG Haven’t Given Up on Bayern Munich’s Plans for the Summer Transfer Market

PSG Haven’t Given Up on Bayern Munich’s Plans for the Summer Transfer Market For your information, Kylian Mbappe suddenly wants...

Beat New Zealand, Philippines Make History at Women's World Cup Beat New Zealand, Philippines Make History at Women's World Cup
Sports2 months ago

Beat New Zealand, Philippines Make History at Women’s World Cup

Beat New Zealand, Philippines Make History at Women’s World Cup Jakarta, Beritasatu.com– The Philippines made history after winning the 2023...

Qualifying for the Top of Japan Open , Ahsan/Hendra Qualifying for the Top of Japan Open , Ahsan/Hendra
Sports2 months ago

Qualifying for the Top 16 of Japan Open 2023, Ahsan/Hendra Admits They Made Many Mistakes in Game 1

Qualifying for the Top 16 of Japan Open 2023, Ahsan/Hendra Admits They Made Many Mistakes in Game 1 Jakarta, Beritasatu.com...

The / Student Basketball League Competition Begins with the Jakarta The / Student Basketball League Competition Begins with the Jakarta
Sports2 months ago

The 2023/2024 Student Basketball League Competition Begins with the Jakarta Series

The 2023/2024 Student Basketball League Competition Begins with the Jakarta Series Jakarta, Beritasatu.com – The biggest student basketball league in...

League : Persik Increases Physical Training and Stamina Ahead of League : Persik Increases Physical Training and Stamina Ahead of
Sports2 months ago

League 1: Persik Increases Physical Training and Stamina Ahead of Against Persib

League 1: Persik Increases Physical Training and Stamina Ahead of Against Persib Kediri, Beritasatu.com – Persik Kediri boosted their physique...

Hurry up to delete, these are evil applications on Hurry up to delete, these are evil applications on
Trend tech & Telecoms2 months ago

iPhone Users Immediately Update to iOS 16.6, Apple Patches Important Security Holes

iPhone Users Immediately Update to iOS 16.6, Apple Patches Important Security Holes Liputan6.com, Jakarta – Apple officially rolls out updates...

Naoya Inoue Wins TKO over Stephen Fulton Naoya Inoue Wins TKO over Stephen Fulton
Sports2 months ago

Naoya Inoue Wins TKO over Stephen Fulton

Naoya Inoue Wins TKO over Stephen Fulton Liputan6.com, Jakarta Boxer from Japan, Naoya Inoue defeated the WBO and WBC super...

Infosys co founder Narayana Murthy claims Kareena Kapoor misbehaved with fans Infosys co founder Narayana Murthy claims Kareena Kapoor misbehaved with fans
Hot Trending Gists2 months ago

Infosys co-founder Narayana Murthy claims Kareena Kapoor misbehaved with fans in flight

Infosys co-founder Narayana Murthy claims Kareena Kapoor misbehaved with fans in flight Infosys co-founder Narayana Murthy claims Kareena Kapoor misbehaved...

Taipei Open : Chico to the semifinals, KW's daughter bounces Taipei Open : Chico to the semifinals, KW's daughter bounces
Sports2 months ago

Japan Open 2023: 6 Indonesian representatives play today, Chico faces Israeli players

Japan Open 2023: 6 Indonesian representatives play today, Chico faces Israeli players Tokyo, Beritasatu.com – Six Indonesian representatives will start...

So Many Look at Investment Assets, Here's How to Play So Many Look at Investment Assets, Here's How to Play
Cryptocurrency2 months ago

Telegram Bot Crypto Coin Market Capitalization Increases, Touching IDR 2 Trillion

Telegram Bot Crypto Coin Market Capitalization Increases, Touching IDR 2 Trillion Previously, crypto analytics company Elliptic integrated artificial intelligence (AI)...

These are the Japan Open Points and Prizes to be These are the Japan Open Points and Prizes to be
Sports2 months ago

These are the Japan Open Points and Prizes to be Held from July 25

These are the Japan Open Points and Prizes to be Held from July 25 Jakarta, Beritasatu.com – The Japan Open...

Defeated by Hong Kong Doubles, Rehan/Lisa Knocked Out from Japan Defeated by Hong Kong Doubles, Rehan/Lisa Knocked Out from Japan
Sports2 months ago

Defeated by Hong Kong Doubles, Rehan/Lisa Knocked Out from Japan Open 2023

Defeated by Hong Kong Doubles, Rehan/Lisa Knocked Out from Japan Open 2023 Jakarta, Beritasatu.com – Indonesian mixed doubles, Rehan Naufal...

Menkominfo Budi Arie Setiadi Outspokenly Turns Out to Be a Menkominfo Budi Arie Setiadi Outspokenly Turns Out to Be a
Trend tech & Telecoms2 months ago

The Minister of Communication and Informatics and the Attorney General Agreed that the construction of 4G BTS will continue amidst the legal process

The Minister of Communication and Informatics and the Attorney General Agreed that the construction of 4G BTS will continue amidst...

Rohit Shetty gave an update about 'Singham ', said this Rohit Shetty gave an update about 'Singham ', said this
Hot Trending Gists2 months ago

Rohit Shetty gave an update about ‘Singham 3’, said this about the fan following of the film

Rohit Shetty gave an update about ‘Singham 3’, said this about the fan following of the film Mumbai Bollywood filmmaker...

Japan Open Results: Eliminated Immediately, Apri/Fadia Upset Japan Open Results: Eliminated Immediately, Apri/Fadia Upset
Sports2 months ago

Japan Open 2023 Results: Eliminated Immediately, Apri/Fadia Upset

Japan Open 2023 Results: Eliminated Immediately, Apri/Fadia Upset Different results were obtained by Gregoria Mariska Tunjung. The Indonesian women’s singles...

Cool, Indonesian racer Qarrar Firhand won in Italy Cool, Indonesian racer Qarrar Firhand won in Italy
Sports2 months ago

Cool, Indonesian racer Qarrar Firhand won in Italy

Cool, Indonesian racer Qarrar Firhand won in Italy Brescia, Beritasatu.com – Indonesian young racer, Qarrar Firhand won the championship podium...

Advertisement
Advertisement
Advertisement

Trending