Who would have thought, apparently the Asian region dominates almost the entire crypto market based on a study from Messari.
China, Japan, Korea, Hong Kong and Singapore lead the market with deep liquidity pools followed by several Asian countries which also show high potential in this sector.
The report also mentions China as the first country to represent whales and crypto trade
"East Asia (the majority of China) dominates 90% of short-term trading above $ 10,000 over North America which focuses more on long-term ownership of Bitcoin (BTC)."
Chainalysis data highlights that over the 12 months to June 2020, crypto currency activity in Asia reached 43% or nearly $ 300 billion in transactions, covering the entire United States (US) and Europe.
Messari's study also shows that the top 20 token projects and over 40% of the market capitalization are based in Asia. Meanwhile, companies in the region have contributed 94% of the total BTC futures.
The top six crypto firms from Asia are Binance, Bitmain, Canaan, Block.one, Ebang and Liquid, half of which are related to Bitcoin mining.
China currently controls the 65% BTC hash rate while Malaysia enters the top five with the hash rate reaching 4.33%.
