Japan’s Active Crypto Trading Population Expected to Hit 500,000 in 2024
Japan’s crypto use will stay among the highest in the world, with the number of people trading crypto daily rising from 350,000 to around 500,000 by the end of this year, according to a Bitget study.
This places Japan’s market size between those of Turkey and Indonesia. It’s also about two-thirds the size of South Korea’s market. This strong adoption in Japan can be attributed to the government’s forward-thinking regulations that encouraged the industry’s growth.
New regulations focused on compliance, along with the launch of cryptocurrency ETFs in the US, are expected to boost Japan’s crypto market. This means more involvement from both big institutional and retail investors.
“Japan with its high awareness for crypto is a dynamic and rapidly evolving landscape,” said Gracy Chen, CEO of Bitget. She added that exciting possibilities and current trends in Japan make it a prime area for new technologies and widespread use.
According to the study, Japanese users are expected to continue their strong interest in local blockchain projects, especially games. They are also expected to increase their involvement with NFTs and blockchain task platforms.
It is expected that one or two blockchain game projects in Japan will secure significant capital investment, establishing them as key players in the global crypto market.
Further, wallets with transaction aggregation and NFT trading functionalities are likely to become increasingly popular among Japanese users.
Further, Japanese crypto enthusiasts are not only excited about the space but also actively trade. Their focus is on established, large-cap coins like Bitcoin, Ethereum, and others that Japan’s Financial Services Agency (FSA) has approved. This preference for well-known tokens is
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