Editors Note: This article comes fromHoneycomb Finance News (ID: fengchao-caijing)Editors Note: This article comes from
Honeycomb Finance News (ID: fengchao-caijing)
, Author: Wendao, Editor: Wen Dao, reproduced by Odaily with authorization.
The stock market where digital asset trading platforms compete has become a red sea. Globalization strategy and overseas expansion have always been the focus of each platform. So among the 233 countries and regions in the world, besides China, the United States, Japan, and South Korea, which other countries are worthy of attention? In addition to policy factors, market activity has become an important indicator.
In the past three months, Kong Deyun, a senior researcher at the OK Research Institute, has tracked the changes in digital currency flows in 185 countries and 53 exchanges, and formed an analysis of the Current Status of Global Digital Currency Market Activity.
The analysis data shows that the activity of the global digital currency market shows a Matthew effect. The TOP20 countries account for 74.74% of the total global activity, and the remaining 165 countries together account for 25.26%.
Kong Deyun introduced that when exploring the global digital currency market activity, she and her team built a model and assigned different weights to the main indicators that can reflect the market activity. The weights of these indicators include exchange traffic (70%), over-the-counter transaction traffic (10%), market website traffic (10%), blockchain browsers (5%), public opinion popularity (5%), etc., and according to each The authoritative statistical tool data corresponding to the indicators were analyzed.
For an exchange or any other blockchain product, it is often more choice than effort in terms of global market expansion. If unfortunately one of the 165 countries is selected, it is likely to get twice the result with half the effort. Kong Deyun hopes , these data can provide some judgment basis for exchanges when planning overseas strategies.
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People in the United States and Russia are the most active, and Chinas popularity is hidden
Set the total global activity as 100%. According to the weight calculation, among the 185 countries tracked and counted by Kong Deyun, the top 20 countries account for 74.74% of the total global activity, and the remaining 165 countries together account for 25.26%. The top three active countries are the United States, Russia, and Brazil, followed by Turkey, China, and Indonesia.
Transaction flow is an important indicator of activity. This time, the analysis of Global Digital Currency Market Activity Status takes the average PV (monthly activity) > 1M in the past 3 months as the standard, and selects 53 exchanges (including the decentralized exchange DEX that meets the standard) and derivatives exchanges) conducted traffic statistics and analyzed the distribution of traffic on these exchanges in various countries.
In this regard, Kong Deyun introduced that when selecting exchange products as the statistical basis, in order to avoid subjective bias, they only use website traffic as the measurement standard. As for the reasons for the low traffic from China, she believes that there may be two factors, Compared with other countries, Chinas mobile Internet is more developed, and users tend to use mobile apps, but due to the limitations of statistical tools, they only counted traffic from the web; moreover, even when counting multiple domains for some platforms, ladder users are not counted.
She said that in some other statistics, the digital currency transaction flow of Chinese users on the APP side is four times that of the Web side (API users directly access the browser, which is not included in the monthly activity), so it is speculated that the transaction flow of the Chinese market is very large. Possibly more than the US.
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High popularity does not mean good layout, local predators become barriers
Although the US, Russia, and Brazil markets have a traffic advantage, it does not necessarily mean that exchanges that want to make a presence in these regions will get a piece of the action.
The data shows that among the top 20 countries in terms of traffic, not only are global exchanges sharing market share, but regional exchanges are also very strong.
Take Gemini Gemini as an example, the worlds first licensed digital currency exchange approved by New York State in 2016, 79.19% of its total traffic comes from the United States. There are also local giants such as Coinbase in the local market.
While in Russia, locals prefer to trade cryptocurrencies on EXMO. In Brazil, 96.07% of traffic flows into Mercadobitcoin. The Chinese market is also firmly dominated by exchanges such as ZB.com, OKEx, Huobi, and Gate.io.
Entering the Japanese and Korean markets will definitely get a share of the cake? From the data point of view, the local choice of traffic in Japan and South Korea is also very obvious. Japanese users are mainly concentrated in local exchanges such as Bitflyer, Zaif, Bitbank, Coincheck, etc. Korean users also show strong closed characteristics.
According to the analysis of the researchers, these regional exchanges have set high barriers to external competitors who want to share the local market. Japan and South Korea are not a good target for overseas market expansion.
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The demand in the European market is strong, and there are blue oceans in South American countries
For exchanges with overseas expansion plans, among the TOP20 countries with high popularity and high traffic, the Europa market has a lot of opportunities from the data.
European countries such as the UK, Germany, France, the Netherlands, and Spain, which rank 8th in terms of traffic distribution, do not have strong local exchanges, and their traffic is also considerable. In addition, Canada in North America and Vietnam in Asia also have strong trading demand, but lack local exchanges.
Among the indicators of transaction heat, OTC transaction flow presents demand for cryptocurrencies brought about by some geopolitical and economic factors.
Analysts found from the average monthly traffic distribution of major OTC platforms such as Localbitcoin, Buybitcoinworldwide, and Paxful in the past three months that Latin American and African countries such as Venezuela, Argentina, Sudan, and Nigeria have a strong demand for over-the-counter transactions of digital currencies.
Kong Deyun sorted the above-mentioned countries according to the inflation rate and looked for the reasons. She believed that due to the instability of the legal currency system and high inflation rate, the citizens of these countries often hedged the risk of legal currency by allocating digital currency. In her view, such countries have the characteristics of low transaction flow but strong demand, and can be reserved as a blue ocean market for the exchanges overseas market expansion.
In terms of public opinion, India, Slovenia, the Philippines, Venezuela, Pakistan, Nigeria and other countries have begun to pay attention to Bitcoin, showing interest in searching for BTC terms.
Among them, the discussion of digital currency in India is very hot, but judging from the transaction flow data, there are still a small number of people who actually participate in the transaction. According to the analysis, there are also targets that can be paid attention to in these countries with high public opinion discussion but low transaction enthusiasm.
