But, even then, trading volumes OTC markets in China only account for tens of millions of dollars worth of Bitcoin trades on a weekly basis, which is a small fraction
of global Bitcoin trading volume in contrast to leading exchanges such as Bithumb which process hundreds of millions of dollars in trades on a daily basis.
At the time of writing, on CoinMarketCap, the BTC / CAD trading pair accounted for 0.05 percent of
the global bitcoin trading volume.
China was the biggest player by far, capturing over 80 percent of
the global Bitcoin trade volume, according to some reports.
During the last few days,
global Bitcoin trading volumes have also hit all - time highs.
According to Bitcoinity, over the last 24 hours, the share of Chinese stock exchanges OKCoin and BTCChina in
the global bitcoin trading volume reached 21.67 % and 14.5 % respectively.
Presently the global ranking of CNY has stumbled down to the 20th place and accounts for just 0.03 % of
global bitcoin trading volume.
After allegedly capturing roughly 70 percent of
the global bitcoin trade volume, the country's national currency CNY now represents less than 0.02 percent according to data from online exchanges.
Three main Chinese crypto exchange platforms, BTCChina, Huobi and OKCoin, account for more than 98 % of
the global bitcoin trading volume.
Currently,
Global Bitcoin traded volume being lead by the Far East.
«At present, China's trading volume has declined drastically,» Wo said, as China is no longer the dominating force it once was when it comprised more than 90 % of
the global Bitcoin trading volume.
China was the biggest player by far, capturing over 80 percent of
the global Bitcoin trade volume, according to some reports.