Japanese Cryptocurrency Exchanges Experience Large Increase In New Users Accounts

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Japanese cryptocurrency exchanges have seen and registered an increase in the number of new accounts created. According to Cointelegraph Japan, platforms in the Asian countries have seen new account openings increase almost 200% in the last two months. This shows that there is a renewed interest in digital assets in the market.

Japanese Exchanges Register New Users

As per data provided by three crypto exchanges, Bitpoint, DMM Bitcoin and Coincheck, there has been a significant increase in the interest for virtual currencies in the market. This is also related to the price surge that Bitcoin experienced during the last few months.

The report shows that daily account openings for Bitpoint were three times as high in May as in previous months such as March. Compared to April, the daily creation of new accounts has also surged two times. DMM registered two times new users than in March and 1.5 times more than in April. Finally, Coincheck has also experienced an increased in the number of new daily account openings compared to March.

According to Coincheck, the local peak occurred on May 14. This day, Coincheck’s PR department informed that they have experienced a significant increase in the number of new accounts that was seven times larger than on an average day in March.

It is worth mentioning that Bitcoin was traded between $3,750 and $4,150 during March. In April, Bitcoin skyrocketed and reached $8,400 in May, the largest price registered by the most popular digital asset in over eight months.

Virtual currencies have experienced a very positive second quarter in 2019 until now. The sentiment has changed in the market from negative to positive and enthusiasts believe we are in a new bull trend. Other experts consider that the market could keep growing in the near future and that we already are in a bull market.

According to CNBC, Coinbase registered 100,000 new users per day when Bitcoin was close to reaching new all-time highs in December 2017. Coinbase is one of the largest cryptocurrency exchanges in the market and in the United States as well. The increase in new accounts for Coinbase in 2017 was related to a bull run for Bitcoin that skyrocketed to $20,000. At that time, Bitcoin was traded close to $7,450.

Currently, each Bitcoin can be purchased for $7,842 and it has a market capitalization of $139 billion.

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