Japan: Bitcoin Surpasses XRP in Yen-Denominated Crypto Holdings
Marie Huillet's original article for cointelegraph.com reduced by 60%
Fresh data from the Japan Virtual Currency Exchange Association has revealed that as of April 2019, the value of yen-denominated Bitcoin holdings has outstripped those in XRP on domestic exchanges. As Cointelegraph Japan reported on Sept. 10, the surge in the value of exchanges' Bitcoin holdings coincides with the beginning of Bitcoin's 2019 bullish uptrend, which saw the top cryptocurrency hit close to $14,000 by late June.
Value of yen-denominated Bitcoin and XRP holdings on JVCEA member exchanges, January-July 2019. The JVCEA is a self-regulatory crypto exchange association that formed in March 2018 in order to help establish industry-wide investor protection standards. As Cointelegraph Japan notes, back in December 2018, the value of yen-denominated XRP holdings had been higher than that of Bitcoin holdings - despite Bitcoin's larger market capitalization globally.
Yen-denominated XRP holdings on JVCEA member exchanges, Dec. 2018-July 2019. Yen-denominated Bitcoin holdings on JVCEA member exchanges, Dec.
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CN [too long; didn’t read]
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