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Yuan’s share of world Bitcoin trading drops to 30%

Changes in trade rules, which were introduced by Chinese cryptocurrency exchanges in January this year, have led to a dramatic change in situation on the market. It is reported by Bitcoin.com

It should be reminded that the major cryptocurrency exchanges as BTCC and Huobi stopped margin trading and OKCoin reduced its leverage to 1x on January 19 this year. This was preceded by a series of meeting of the leadership of the exchanges with the leaders of the People's Bank of China.

But the changes in the rules were not over yet and OKCoin, Huobi and BTCC announced an introduction of 0,2% fee for Bitcoin and Litecoin transactions on January 21. Traders reacted by transition to other trading platform and a decline in Huobi and BTCC’s exchanges was 92% and 82% respectively by January 24.

All of that has culminated in falling of yuan’s share, which previously reached 99% of total Bitcoin, to 33% in just a month.

Source: forklog.com

  • February 13, 2017 11:47 AM MSK
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