Renowned cryptocurrency exchange bitFlyer Japan recently revealed that its assets under custody exceeded 161.8 Bln yen [around $1.5 Bln] earlier in August, the very best level within 2-years.
In line with the official announcement published, the rise in bitcoin price and therefore the exchange listing four new crypto assets at the top of last year led to the hike in assets under custody or the entire value of monetary assets the firm manages for its clients.
Within the period from december last year via now, bitFlyer Japan listed Ripple [XRP], Basic Attention Token [BAT], Stellar Lumen [XLM] as well as NEM [XEM] onto its exchange.
As reported earlier, consistent with the latest statistics from the Japanese cryptocurrency asset trading industry, the physical transaction volume of native crypto assets was down this year: July likely in-kind trading was approximately 604 Bln yen, well below the 1.1 trillion yen recorded earlier in July last year.
Also earlier this year, bitFlyer conducted an online survey which revealed that within the primary half this year, most of the people who opened new accounts with the exchange were in their 20’s.
Market analyst at bitFlyer, Midori Kanemitsu, revealed within the same report that the attitude towards Bitcoin [BTC] had changed significantly as global monetary easing progressed during the coronavirus outbreak, shifting the crypto from an investment target to an asset class that institutional investors can hedge against inflation.