Yen-Denominated Bitcoin Assets Surpassed The Same Indicator On Japanese Exchanges XRP cryptocurrencies in April 2019, Cointelegraph writes with reference to new data from the Japan Virtual Currency Exchange Association (JVCEA).
Bitcoin regains dominance over XRP in terms of assets on Japanese exchanges in yen
The establishment of the superiority of bitcoin over XRP coincided with the beginning of the rise in the rate of the first cryptocurrency in April.
Yen-denominated Bitcoin (red line) and XRP (blue line) values on JVCEA member exchanges from January to July 2019
As you can see in the image above, during the first three months of 2019, the volume of assets in XRP in terms of fiat in wallets of Japanese exchanges was higher than in Bitcoin, despite the global superiority of the latter in terms of capitalization..
While bitcoin’s much more compelling price performance helped it bypass Ripple-issued cryptocurrency on Japanese exchanges, JVCEA data suggests that their wallets continued to accumulate throughout 2019. More and more XRP.
The volume of XRP assets on the exchanges that are part of the JVCEA from December 2018 to July 2019
Yen-denominated Bitcoin volume on Japanese exchanges peaked in June 2019, while in nominal terms the maximum was updated in April at 156 651 BTC.
The volume of BTC assets on exchanges that are part of the JVCEA from December 2018 to July 2019
Previously, the Japanese financial corporation SBI, with which Ripple has been cooperating for several years, stated that the plan of the latter to invest in the MoneyGram payment service will have a significant impact on her own business, Cointelegraph notes.
In April, Yoshitaka Kitao, CEO of SBI Holdings, joined the Ripple board of directors.
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