The US dollar retains a dominant position in trading BTC with Fiat pairs


According to a study conducted by CryptoCompare, with the U.S. dollar retained a dominant position in trade with BTC over the last month, when compared with trade in other Fiat pairs.

According to the latest report on analytical study of cryptocurrency exchanges, released CryptoCompare, in US dollars is half of trading BTC for the last 30 days.

And although the dollar dominates the market not less actively trade and pairs with other Fiat currencies. So the share of Japanese yen (JPY) accounts for 21% of trading volume, and the Korean won (KRW) gives 16% of the trades.

It is noteworthy that earlier the trade in the pair BTC/KRW accounted for only 10% of the trade. However, the greatest surge in trading of this pair was noted between 7 and 15 October. During this period, the KRW was 1/3 of the BTC trade, an increase in the amount of 230%. This was the period of peak trade in cryptocurrencies in South Korea. Among other currencies included in the top 10, noted Euro, GBP and PLN.

Indicators decentralized exchanges is quite low

Another interesting fact was reflected in the report CryptoCompare. In their report the researchers noted that the figures on the decentralized exchange (DEX) remain quite low.

According to the study, overall average daily trading volume, taken according 5 decentralized crypturi, is $2.4 million, which in total is equal to 0.4% of the total stock trading volume.

It seems that, despite the main advantage of the blockchain in the form of decentralization, users still have more trust in centralized exchanges. Such conclusions analysts are unlikely to please supporters of the basic principle of cryptocurrency, including Ethereum co-founder Vitalik Buterin, who had previously expressed the hope that “centralized exchanges will burn in hell soon enough”.

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