Trading & Investing

Asia Accounts for 94% of BTC and 98% of ETH Futures Volumes: Messari Report

With the ‘Asia dumps’ doing the rounds on CT, Messari released a report on the Asian crypto landscape revealing that the region accounts for 43% of digital asset trading — equivalent to the US and Europe combined.

“With Asia accounting for 60% of the world population, infrastructure companies across the world are interested in tapping the growing market,” notes the report. East Asia, which is mostly China, is also largely engaged in larger trades of above $10k.

The research notes that despite accounting for 43% of global transaction volume, “much of the region remains a blindspot in the west.”

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Moreover, 42% of the top 20 crypto-asset market cap that includes Tether (USDT), Cardano (ADA), BNB, EOS, and Tron (TRX) belong to the region.

The same is the case with cryptocurrency unicorns, where six out of the top 10 belong to the region. These unicorns are Bitmain, Canaan, Binance, Block.one, Ebang, and Liquid, which helps the region control over half of the BTC hash rate, with China controlling the largest share of 65% with Malaysia also making it in the top five with a 4.33% share of global hash.

In the Asian region, “Hong Kong is a dominant market given the city runs on finance,” notes analyst Mira Christanto who penned the research.

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While Asia alone accounts for half of the world’s crypto trading, this data is more skewed towards the region when it comes to the derivatives market as nearly all the Bitcoin and Ether futures volume are handled by Asian companies.

Asia-based companies including BitMEX, FTX, Huobi, OKEx, Binance, Bybit, Bitflyer, and Bifinex, account for 98% of ETH and 94% of BTC futures volumes — “basically, the entire globe.”




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