Japan has the second-highest number of crypto traders in the world

Datalight, a crypto asset research platform, analyzed website traffic data from 100 top cryptocurrency exchanges to determine where traders are located.

Japan has 6.24 million crypto traders, second-highest in the world

With 6.24 million traders, Japan ranks second, following the top-ranked United States, which has 22 million traders. South Korea ranks third with 5.70 million traders, followed by the United Kingdom, Russia, Brazil, Germany, Vietnam, Turkey, and Canada. The report reveals a high number of traders in countries where the local currency is unstable such as Turkey, Ukraine, and Mexico. The website traffic analysis was based on IP addresses, meaning that Chinese traders and those using virtual private networks (VPN) were not counted.

In other Japan news this month, Avex Inc., a leading Japanese entertainment company, announced the release of a new subsidiary brand, Avex Technologies Inc. The new brand will develop and produce games, videos, music, and VR using cloud and blockchain technologies.

The wider Avex Group is focused on “global entertainment technology” and established Avex Technologies Inc to explore new ways of creating intellectual property through cutting edge technologies. Avex views fintech and blockchain as an innovative area in which to do business. In June 2018, Avex established EntameCoin Inc, which provides an electronic payment system for use in the entertainment industry. It issues, sells, and manages e-money and virtual currencies.

In 2018, Avex revised its articles of incorporation, adding cryptocurrency exchange to its business purposes, along with the issuance, sale, and management of e-money and the provision of an electronic payment system.

Several of Japan’s biggest companies are expected to make new crypto-related announcements in the near future. These include Monex Group, which operates the Coincheck cryptocurrency exchange, LINE, which manages the LVC cryptocurrency business, and Rakuten, which operates Rakuten Wallet cryptocurrency exchange. With the global crypto markets turning bullish, Japan’s blockchain industry is expected to grow significantly in the near term.