On January 10, the Japan Virtual Currency Exchange Association [JVCEA] updated monthly statistical data based on transaction data of members belonging to the association and added data for November 2019. The volume of cryptocurrency transactions in the same month was about 1.8 billion on a volume basis. It was the lowest ever since September 2018, when JVCEA started recording. On the other hand, the number of users at the virtual currency exchange has reached a record high, with about 65,000 accounts opened.

Transaction volume of cryptocurrency spots in November 2019 was 351.8 billion yen per month on a value basis, which was a low value even within 2019. Although trading volume has been declining, the balance held by the exchange has not fluctuated significantly.

CoinGecko's market report, up to the third quarter of 2019, showed that cryptocurrencies are following real-world seasons. In fact, when comparing the domestic virtual currency transaction volume on a monetary basis with the monthly average of the daily average temperatures announced by the Japan Meteorological Agency, it is clear that the same waveform is shown.

In 2019, the cryptocurrency exchange started many services other than trading. For example, bitFlyer can exchange Bitcoin at T points. Coincheck is linked to questionnaire reward points, and DeCurret is starting to provide electronic money charges using virtual currency. Both were announced from August to September. These moves are likely to have led to an increase in the number of users, despite a weak volume in November data.

The status of virtual currency holdings by virtual currency is as follows. Bitcoin continues to be the top holding this month.


editor

Shane is an economics and mathematics double major with a keen eye for the financial world. His understanding of the current economic model of different countries is enlightening and he aims to bring that impressive knowledge and experience into his writing. He is currently exploring writing about different genres within the entertainment, business and cryptocurrency sphere and aims to bring diversity in his writing.

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