USD Emerges As Most Traded Fiat Currency Against Crypto, Post Study

By Ravindra Chagetha

In a new study, published on September 4, the Management and technology consulting firm GreySpark has found USD to be the most actively traded fiat currency against crypto. The research focuses on the ongoing popularity of cryptocurrency that turned into a web sensation in late 2017 when Bitcoin’s cost crested at $20,000.

GreySpark specialists found that crypto costs corresponded with Google search interest. For example, the vacillation in the value of Bitcoin somewhere in the range of $19,000 and $20,000 corresponded with the record-breaking measure of searches for “Bitcoin” and “Cryptocurrency”.

Moreover, the researchers say that crypto exchange volumes have flooded on most marketplaces, taking note of USD becoming the most actively traded fiat currency over the last couple of years.

The study additionally expresses that more than 20 cryptocurrencies had a market capitalisation of over $1 billion during 2018. And the total marketing capitalisation of all cryptocurrencies achieved a record top over $800 billion in January 2018.

The Research Divides Countries Into 3 Groups

Based on the harshness of the nation’s official stance towards crypto, the research divides countries into 3 groups –

1. Australia, Japan, South Korea and Switzerland are one of the quick adopters of crypto regulation and digital currency products.

 

2. Canada, Russia, the U.S. and others are reportedly proceeding with utmost caution to approach the new asset.

 

3. China and Colombia around grouped as nations whose governments have taken harsh stances even more towards crypto, instituting bans and different restrictions.

Likewise, GreySpark’s report takes note of the absence of confided in-care arrangements in the crypto industry, contending that the market is sitting tight for the big houses such as U.S. based State Street and Northern Trust.

Not only this but the general interest in digital assets has provoked large universities to launch courses which are dedicated to the ever-emerging technology. A study shows that nearly 42% of the world’s top 50 universities provide no lass one course on cryptocurrencies and blockchain. Citing these researches, we can say a new sort of digital world is awaiting future.