Three major cryptocurrency exchanges in Japan — DMM Bitcoin, Coincheck, and Bitpoint — reported that there has been a sharp increase in the number of entry-level investors registering at the exchanges since March.
According to Cointelegraph Japan, the move implies a greater interest in cryptocurrency in Japan. The increase in investors also corresponded with the bull market. BitcoinNews reported that the BTC price index has risen over 25% since US President Donald Trump announced higher tariffs on Chinese goods, with signs of further increases with the intensification of trade tensions.
Reports stated that account openings per day for Bitpoint were twice as high in April compared to March, and three times as high in May. DMM said it saw account registration in May double from March, and Coincheck reported that its account openings in May tripled from March.
Coincheck disclosed that the local peak was on May 14th, when the number of account openings rose sevenfold from the average day in March.
BTC traded from US$3,750 – US$4,150 in March, and on May 14th, BTC traded at an average of US$8,250.
The resurgence in the market has benefitted other companies as well. Earlier, Kraken initiated an equity sale which generated more than US$9.3 million in just two days. Before that, an Initial Exchange Offering (IEO) carried out by the Bitfinex crypto exchange successfully sold US$1 billion in tokens to private investors.
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