Is JPY market cap really higher than USD?

[efiminzer]

According to CrytoCompare, JPY market cap exceeds USD, what basically means that Japan is the biggest crypto market in the world. After browsing CoinMarketCap, Bitcoinity and other websites, I could not confirm that fact.
Can someone please help me understand if I'm mistaken, or is that just "fake news" to help CryptoCompare get viral?

[OmegaStarScream]

If the data are in real time then It should be accurate as they are taking them from the exchanges. You could verify manually by checking the 24 hour volume rankings (exchanges) in CoinMarketCap and sum by group every BTC/USD and BTC/JPY and then simply compare them.

[grandbrad02]

No i don't think the JPY market cap could be higher than USD . USD is the worldwide  using currency in the world and it's the number one at this moment.

[efiminzer]

No i don't think the JPY market cap could be higher than USD . USD is the worldwide  using currency in the world and it's the number one at this moment.

That was my thoughts exactly, and the reason for this post.
Meanwhile, I've been doing some exploring and it seems that there is no truth in the news. USD seems to be the market leader by far.

[Pursuer]

dude what you are seeing is "volume" not "market capitalization"!
your question doesn't even make sense! market cap means circulating coins multiplied by the price.

if you want to figure out what is the "biggest crypto market" then you need to check out how much volume is coming out of each exchange located in different countries with different main currency. although that alone is not accurate but it is a start.

here is a good source: https://data.bitcoinity.org/markets/volume/6m?c=c&t=ae
which shows USD is the dominating one, JPY is the second.

ps. I said it is no accurate on its own because sometimes exchanges report fake volumes. sometimes they have 0 fees which adds to their volume to unrealistic levels, sometimes sources like bitcoinity don't list all the exchanges so they may report some volumes so much lower than reality.
pps. also remember that USD being dominance doesn't mean US is dominant. because USD is used by so many other countries that do not have an exchange themselves. for example third word countries that are using bitfinex to trade use USD instead of their own currency or other fiat such as JPY, EUR,.... so it adds to USD volume.

[efiminzer]

dude what you are seeing is "volume" not "market capitalization"!
your question doesn't even make sense! market cap means circulating coins multiplied by the price.

if you want to figure out what is the "biggest crypto market" then you need to check out how much volume is coming out of each exchange located in different countries with different main currency. although that alone is not accurate but it is a start.

here is a good source: https://data.bitcoinity.org/markets/volume/6m?c=c&t=ae
which shows USD is the dominating one, JPY is the second.

ps. I said it is no accurate on its own because sometimes exchanges report fake volumes. sometimes they have 0 fees which adds to their volume to unrealistic levels, sometimes sources like bitcoinity don't list all the exchanges so they may report some volumes so much lower than reality.
pps. also remember that USD being dominance doesn't mean US is dominant. because USD is used by so many other countries that do not have an exchange themselves. for example third word countries that are using bitfinex to trade use USD instead of their own currency or other fiat such as JPY, EUR,.... so it adds to USD volume.

Bro, I know! If you read my post again, you'll notice that I've checked Bitcoinity and it just added to my confusion because I noticed that JPY is second to USD by far (almost X6), which contradict the CrytoCompare theory that started my confusion. So we actually agree

[Pursuer]

dude what you are seeing is "volume" not "market capitalization"!
your question doesn't even make sense! market cap means circulating coins multiplied by the price.

if you want to figure out what is the "biggest crypto market" then you need to check out how much volume is coming out of each exchange located in different countries with different main currency. although that alone is not accurate but it is a start.

here is a good source: https://data.bitcoinity.org/markets/volume/6m?c=c&t=ae
which shows USD is the dominating one, JPY is the second.

ps. I said it is no accurate on its own because sometimes exchanges report fake volumes. sometimes they have 0 fees which adds to their volume to unrealistic levels, sometimes sources like bitcoinity don't list all the exchanges so they may report some volumes so much lower than reality.
pps. also remember that USD being dominance doesn't mean US is dominant. because USD is used by so many other countries that do not have an exchange themselves. for example third word countries that are using bitfinex to trade use USD instead of their own currency or other fiat such as JPY, EUR,.... so it adds to USD volume.

Bro, I know! If you read my post again, you'll notice that I've checked Bitcoinity and it just added to my confusion because I noticed that JPY is second to USD by far (almost X6), which contradict the CrytoCompare theory that started my confusion. So we actually agree

checking things more, as I  said in the ps part of my comment, sometimes these stats don't include all the markets.
for example cryptocompare has 7 markets for JPY but bitcoinity only has 3
there are some volume differences too. checking the 24 hour ones on bitcoinity the localbitcoins volume is higher!

to be fair I can not tell which one is correct. but bitcoinity is definitely lacking a lot of volume. adding that JPY may be bigger.

[Ruz05]

USDJPY is one of the most traded couples in the world. The value of these currencies when compared to each other is influenced by the difference in interest rates between the Federal Reserve and the Bank of Japan.Elliott wave that has shown the possibility of the formation of wave 4 opens the opportunity to buy and follow the movement of wave 5. With a positive RR.
USD This is the most popular Bitcoin couple in the world. Bitcoin uses peer-to-peer technology to operate without central authority or bank; the management of Bitcoin transactions and publishing is done collectively by the network. Bitcoin is open-source; the design is public, no one owns or controls this digital currency and everyone can participate. Bitcoin prices increase significantly within a short span of time making the BTC / USD pair popular among traders and active investors. Through its unique range of properties, Bitcoin enables a new way of usage that previously could not be done by any payment system.