Bitcoin: Chinese Yuan Overtakes US Dollar in Trading Volume

By Jerin Mathew September 6, 2014 11:10 BST

More than 70% of bitcoin transactions done over the last 30 days came from trades denominated in the Chinese yuan. Chinese bitcoin exchange BTC China said in a tweet that about 71% of bitcoin trades last month came from the Chinese market.

The exchange sourced bitcoinity to substantiate its claim. The website, which cautions its data is “unfinished” and “may change its form completely”, says the Chinese yuan claimed a 71.35% share of total bitcoin transactions over the last month, followed by 23.16% of the US dollar.

Transactions in the Chinese yuan represented a volume of 3.29 million bitcoins, while the US dollar had 1.07 million bitcoins.

via Bitcoin: Chinese Yuan Overtakes US Dollar in Trading Volume.

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