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NewsBTC 2022-08-24 17:14:35

Study Shows Crypto Trading Is Dominated By US Traffic, See Who Ranks Next

The crypto market has seen minor gains over today’s trading session as major cryptocurrencies are positioned just above critical resistance levels. If the bulls can make a fresh push, Bitcoin and Ethereum might revisit higher levels and open the gate for further gains across the sector. Related Reading: This Indicator Predicts Potential Decline Ahead For Bitcoin Price At the time of writing, Bitcoin (BTC) trades at $21,500 with a 1% profit in the past 24 hours and Ethereum (ETH) trades at $1,680 with a 3% profit over the same time period. Both cryptocurrencies record significant losses on higher timeframes but seem poised for a move higher. According to a report from Arcane Research, the crypto market performance is heavily influenced by traders in the United States. The research firm explore the traffic of over 30 exchange platforms in the past three months, traders based in this country came out as the “most active participants in the market”. Thus, the positions taken by these traders are key to measuring the market direction as they represent a majority of 14.33% of the 20 most active countries in the market. In total, these countries comprise over 52% of all the traffic that goes through crypto exchange platforms. With the exception of the U.S., almost every country in this ranking is outside of the American continent with South Korea and Russia following in the top 2 and 3 positions, respectively. The former records 6.51...

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