Last week during a peak period of bitcoin trading in Japanese Yen (JPY), the bitcoin exchange Zaif set a new record for themselves for the amount of funds traded during a 24 hour period.

According to their corporate blog, Zaif exceeded 45,000 BTC trading, which converts to $19 million in US Dollars or $20 billion Yen.

Zaif is a Japanese bitcoin exchange which provides users with the options to buy and sell bitcoins using their online platform which focuses on the Japanese market. Users can fund their accounts with a bank transfer or cash deposit using Japanese Yen (JPY).

During the peak trading period Zaif accounted for 64% of the trading in JPY, compared to other Japanese exchanges such as BitFlyer and Coincheck. Other exchanges that also serve the Japanese market are Quoine and Kraken.

The JPY bitcoin trading volume from last week can also be visualized on Bitcoinity, as pictured above, which shows the spike in volume for Kraken and LocalBitcoins. Just a few days ago, Kraken announced that secured a multimillion-dollar investment into the expansion of their exchange.

David Shares

David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.

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