Bitget Research Institute: By the end of 2024, the number of daily active trading users in the Japanese market is expected to reach around 500,000

BlockBeats reports that on July 8, Bitget Research Institute released a market analysis report on Japan, comprehensively analyzing the current situation in the region from various dimensions such as the overall situation of the Japanese market, characteristics of cryptocurrency users, competitive landscape and advantages of each platform. In terms of the overall market situation, Japan's total volume and acceptance level of cryptocurrencies are among the global leaders, ranking 18th worldwide. The number of "daily active users" at centralized exchanges in Japan is about 350 thousand people; its user base is comparable to Turkey's and approximately two-thirds that of South Korea.

From a regulatory and cultural perspective, due to incidents like Mt. Gox being hacked, the Japanese government realized early on how important it was for cryptocurrencies to be regulated and has successively studied and introduced relevant policies. Regarding payments and asset deposits/withdrawals, Japan has a relatively good crypto payment environment with offline stores accepting BTC and ETH token payments in bustling areas like Roppongi or Ginza.

In terms of trading habits, Japanese users prefer spot trading mainly focusing on mainstream coins along with tokens from local projects. Japan boasts strong domestic exchanges such as Bitbank,Bitflyer,Coincheck which together account for over 42% share in CEXs traffic.

Looking at popular search keywords over last year: SHIB、DOGE、Solana、XRP、ADA were frequently searched by Japanese users while PEPE,QUBIC,AEVO,and NOT have been trending during past three months (2/28 -5/28).Japanese users pay attention to interactions with blockchain assets especially NFT sector showing interest towards 'Wallet','NFT'and 'Blur'. They also actively participate in NFT transactions,on-chain task platforms,on-chain transactions,and Web3 games.However their interest towards ETH & Base chain transactions seems lower than Solana & BSC chains.

Bitget Research Institute predicts that by the end of 2024, the number of daily active users (DAU) participating in cryptocurrency trading in Japan is expected to reach around 500 thousand. It's likely that one or two blockchain game projects from Japan will receive capital support and become significant global cryptocurrency projects. Furthermore, features like transaction aggregation and NFT transaction wallets are expected to gain more favor among Japanese users.