US Traders Most Active Across Major Crypto Exchanges
New data shows that United States traders are the most active across major crypto exchanges, according to a Feb. 4 tweet from data analytics firm DataLight.
The U.S. has the highest distribution of traders — 60 percent — on major crypto exchange and wallet Coinbase, while on Binance, Bittrex and Poloniex, U.S. traders make up 24, 27 and 28 percent of total crypto traders respectively.
Geographical Distribution of Crypto Traders. Source: DataLight
American traders are less represented on Hong Kong-based crypto exchange Bitfinex, at 10 percent of traders on the exchange, while German traders make up 13 percent.
Earlier this year, Bittrex launched an over-the-counter (OTC) trading desk that offers around 200 crypto assets. OTC trading has become extremely popular among institutional investors looking to trade in large volumes, as previously reported by Cointelegraph.
Since the beginning of the year, trading records have been reporting lower numbers, according to a previous article by Cointelegraph. Coinbase was experiencing lows that they have not been seen since 2017, with the Bitcoin (BTC)/US Dollar (USD) market at allegedly around $1 billion in January.
As reported by Cointelegraph, Coinbase has recently added support for European Union residents to make fiat currency withdrawals to PayPal, after having released this service for its U.S. users in December 2018.