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Analysis: As the Nikkei index plummets, trading volume on the Japanese cryptocurrency exchange Bitflyer surges by 200%
By: rootdata|2026/03/09 16:43:41
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According to market news, as the Japanese stock market's Nikkei index plummeted, the Tokyo-based cryptocurrency exchange Bitflyer saw a surge in trading volume. CoinGecko data shows that Bitflyer's 24-hour trading volume increased by 200%, far exceeding Coinbase's 112% and Binance's 75%. Meanwhile, South Korea's Upbit rose by 27.1%, and Bithumb increased by 49%.
Trading data during the Asian session indicated that Bitcoin against the Japanese yen rose by about 2.05%, outperforming the 1.86% increase against the US dollar and the 1.64% rise against the South Korean won, reflecting both the weakening yen and the surge in trading activity in Japan. The Japanese stock market fell by about 6.5% on Monday, while the South Korean composite index dropped about 8%, triggering a circuit breaker. Analysts pointed out that the South Korean market reacts more severely to oil price shocks due to its heavy reliance on imported energy, with about 70% of crude oil coming from the Middle East. Although the Japanese stock market also experienced a significant decline, its constituent stocks are more diversified and relatively more resilient, which explains why cryptocurrency trading in Japan surged despite the stock market downturn.
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