Bitflyer volume surges 200% past Binance, Coinbase as oil spike sends Nikkei sliding
Bitflyer's trading volume increased by 200% as Japan's Nikkei fell amid rising oil prices and a broader Asian market selloff.Summary
Japan's Bitflyer exchange experienced a significant surge in trading volume, increasing by 200%, while the Nikkei 225 index declined alongside other Asian markets due to a sharp rise in oil prices. This increase surpassed the volume growth seen on major global exchanges like Binance and Coinbase. The situation is linked to disruptions in oil flow through the Strait of Hormuz caused by the ongoing Iran war, impacting oil-dependent Asian nations. Bitcoin's value against the Japanese yen also rose during Asian trading hours, suggesting a shift towards crypto assets as equity markets faced pressure. South Korea and Taiwan were particularly affected by the oil price surge, triggering market declines and circuit breakers. While Japan's market proved more resilient, the overall trend indicates a regional response to geopolitical instability and energy concerns.
(Source：CoinDesk)