As per the study, the U.S. tops the charts by contributing to 24.5% of the total traffic directed to crypto exchanges. The second position is scored by Japan with 10%o f the total traffic, South Korea and Indonesia contributes about 6.5% and 4.5% respectively.
The Block further claims that they have observed a positive correlation between gross domestic product per capita and the volume of internet traffic directed towards cryptocurrency exchanges. The report noted:
“Data shows poorer countries aren’t trading crypto as much as wealthier countries.”
The side effect of Regulatory stiffness over Cryptocurrencies has been a well-discussed topic, adding on to the motion the CEO of KIK, a Canadian tokenized social media startup, Ted Livingston revealed that the firm has spent over $5 Million on negotiations with the SEC. Following his announcement, Livingston also announced in a podcast that the platform is launching a $5 million crypto initiative dedicated to funds its lawsuit against the United States Securities and Exchange Commission (SEC).
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