USD Might Soon Be Replaced by JPY as the Most Popular Currency Traded with BTC
When we talk about crypto to fiat trading or vice versa, in most cases we will refer to US dollar and Bitcoin, since these two are clearly the most popular options.
However, USD might soon lose its leadership as the prime choice of BTC traders. Japanese yen has always followed closely, being the second most popular fiat currency of crypto/fiat transactions. However, recently it has started to gain popularity at a high pace. According to the platform CoinHills, USD currently accounts for about 48% of transactions with BTC, where as the share of JPY is a bit more than 47%, which make it pretty much a tie.
Many experts now state that the Asian crypto market has really stepped up its game and now has a bigger influence on the industry than America and Europe. More and more traders are turning to JPY as a means to purchase crypto.