China is 98% of the bitcoin market?

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I saw the following graphic listing the source as Bitcoinity claiming that the Chinese exchanges are 98% of the "global bitcoin market".

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Is this true?

Tyler Durden

Posted 2017-01-15T01:43:54.927

Reputation: 828

2What statistic is that chart supposed to be measuring? Volume, holdings, something else? – Nate Eldredge – 2017-01-15T04:58:08.047

Answers

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Chinese Bitcoin exchanges don't take a fee per trade and some actually reduce the withdrawal fee if more trades were made.

Outside of China, exchanges usually take a fee on each trade. The volumes therefore are not really comparable, and I sincerely doubt that the actual economic activity is so much bigger in China.

Murch

Posted 2017-01-15T01:43:54.927

Reputation: 41 609

Asked: 2017-01-15T01:43:54.927

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Active: 2017-01-15T02:28:44.150