The price of bitcoin increases, volumes have doubled

    The price of bitcoin increases, volumes have doubled

The Western and Russian crypto-exchange community is not yet accustomed to follow the situation on the Japanese crypto-exchange markets. As a rule, mainly monitored by dollar and Chinese exchanges. However, we must not forget that in the past two months the Japanese bitcoin market has actually taken a place that recently belonged to China. The volume of trade on the Japanese stock exchanges continues to grow due to the attraction of many new traders.

In the past weekend, the cost of bitcoin on Japanese stock exchanges reached 300,000 yen ($ 2,690), almost 25% higher than today's highs in dollars. On Monday, it stabilized slightly below this level, giving the dollar exchanges the opportunity to "catch up" with the growth leaders.

While bitcoin reached a historic high - last Saturday the price of crypto currency around the world exceeded the limit of $ 2,000, and on Monday it exceeded $ 2,200, the margin on Japanese stock exchanges began to increase - the price of a coin was on average $ 500 the average rate fixed on such resources as Coinmarketcap.com.

On Sunday, when the average bitcoin price reached $ 2,080, the Japanese Coincheck Exchange fixed the value of the exchange rate on Japanese exchanges at 260,823 yen ($ 2,344).

The largest exchange of the country - BitFlyer - recorded an increase in trading volume by 97% for 24 hours by Sunday. The Kraken exchange noted an increase in the trading volume of the pair USD / BTC within 21%, Bitfinex - within 51%, and GDAX - 45%.

The growth rate of prices for the crypto currency has steadily increased as Bitcoin has gained increasing popularity in the business and media communities of Japan. The movement, aimed at the universal distribution of bitcoin, will soon bear fruit - hundreds of thousands of stores in Japan will soon be able to accept crypto currency as a means of payment. This option is already available in more than 4,500 stores across the country.

Japanese exchanges are of interest to overseas traders, as the prices for the crypto currency are growing quite actively and the possibility of making a profit through arbitrage (buying assets in one market with the subsequent resale of them at another at a higher price, thus earning profit on the difference) is becoming increasingly popular topic for discussion in social networks.

In the meantime, the characters are gaining fame, predicting a rise in prices for bitcoin when the crypto currency was worth much less.

The banking sector also reacted to the new status of bitcoin - the Norwegian bank Skandiabanken began to offer the opening of crypto-currency accounts.

In the meantime, everything is not as perfect as we would like. Speaking about the technical side of the issue, it is worth noting that the number of unconfirmed transactions in the Bitcoin network has now reached such a level that many investors can not take advantage of arbitrage or other lucrative options for trading crypto currency offered by currency markets.

Memory pools (mempool) of network nodes record the historical maximum of unconfirmed transactions - their level has grown significantly even compared to the amount that was recorded two months ago. After a brief decrease on Friday, the queue from transactions continues to grow, with tools such as transaction accelerators becoming the victims of high commission fees to increase the likelihood of rapid transaction confirmation. Now the average cost of a simple transaction has already exceeded $ 5, and transactions with a lot of inputs and outputs cost dozens of dollars.

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