Japanese Cryptocurrency Exchanges Opening Twice More New Accounts Since March

It’s no secret that the trading volumes of exchanges remain high in bull markets and low in bear markets. Traders across the world decrease their trading frequencies during bear markets, and increase them during bull markets. According to some recent reports published by Japanese media, the cryptocurrency exchanges in Japan have observed a 200% rise in the number of new accounts being opened with them over the course of last two months.

They compiled their report based on the data collected from 3 trading platforms: Coincheck, DMM Bitcoin and Bitpoint. Daily account openings on Bitpoint are thrice more in May than they were in March, and at DMM they’re 1.5 times more than they were in April. Coincheck has also seen an increase in new account openings since March, but its increase is not as significant as that of DMM and Bitpoint.

However, collectively the number of new account openings on all these platforms are 2x more than they were about 2 months ago. The company said that the highest jump in the number of new accounts being opened came recently on 14th of May. That day 7x more new accounts were registered in comparison to other days.