Bitbank ranked top for XRP volume???

[Guest]

Bitbank is not something that's ever really been on my radar... but i'm curious as to why they have so much more volume compared to your more traditional exchanges?  Like, over $80 billion more than Binance in a 24 hour period.   

Has Bitbank just become massively popular in Japan, or are they in someway shape or form tied to institutions? 

 

[SquaryBone]

Wash trading?

[Kpuff]

Bitbank is usually always at the top

[iLeeT]

Yep, I think usually when there's a pump, it usually starts from Bitbank and Japan imo. Quite incredible how fast things change in crypto.. previously Korea had a massive dominance whereas Japan was nowhere to be seen, now they are leading the pack.

[Guest]

18 minutes ago, Kpuff said:

Bitbank is usually always at the top

Still doesn't explain why there is so much volume in respect of XRP.

Look at the volume for the last 24 hours compared to Bcash, the second most traded asset on that exchange.  That is a truly massive gulf.  I'd be curious if anyone from Japan has experience with them.  

 

 

[Guest]

It's being used.

[Kpuff]

1 minute ago, tartankiwi said:

Still doesn't explain why there is so much volume in respect of XRP.

Look at the volume for the last 24 hours compared to Bcash, the second most traded asset on that exchange.  That is a truly massive gulf.  I'd be curious if anyone from Japan has experience with them.  

 

 

Bitbank is the number exchange in Japan. They started the zero fee campaign a while back and decided to extend their zero fee campaign until March 2019. I don't know why specifically xrp has that much volume but as long as I've known anytime I check the xrp charts it's either bitbank or bithumb as number 1. I do know that the south korean and Japanese markets are always super high on xrp.

[Guest]

Interesting, I wasn't sure if they had some sort of affiliation with SBIVC, but from what I can gather they are opposition.  

Hmm, Maybe the Japanese know something about XRP that we don't     

Or maybe it's just a massive pump and dump.  

[Kpuff]

1 minute ago, tartankiwi said:

Interesting, I wasn't sure if they had some sort of affiliation with SBIVC, but from what I can gather they are opposition.  

Hmm, Maybe the Japanese know something about XRP that we don't     

Or maybe it's just a massive pump and dump.  

Yeah they are in competition with sbivc. It's said that when Mr. kitao opens up the order books in March, as well as the zero fee campaign for bitbank ends. That SBIVC will start to get significant volume. I'm excited for what they have in store. 

[Guest]

22 minutes ago, Kpuff said:

Yeah they are in competition with sbivc. It's said that when Mr. kitao opens up the order books in March, as well as the zero fee campaign for bitbank ends. That SBIVC will start to get significant volume. I'm excited for what they have in store. 

lets see what happens today... Japan just waking up and XRP just starting to pump again.  

[mandelbaum]

The CEO of SBI sent out a tweet yesterday saying the age of the digital asset has started or something. This is what started the volume pumping.

https://translate.google.com/translate?sl=ja&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.sbi-com.jp%2Fkitao_diary%2Farchives%2F2018110610855.html&edit-text=

 

Edited November 6, 2018 by mandelbaum
Links added.

[Guest]

he's talking about an ebook he wrote -- trying to pump them book sales!

[LilBender]

14 hours ago, iLeeT said:

Yep, I think usually when there's a pump, it usually starts from Bitbank and Japan imo. Quite incredible how fast things change in crypto.. previously Korea had a massive dominance whereas Japan was nowhere to be seen, now they are leading the pack.

Many Korean exchanges didn't have KYC last year and a lot of Japanese traders used them. The regulations are stricter now and those traders use domestic exchanges. 

[Jimmyt]

21 hours ago, tartankiwi said:

Bitbank is not something that's ever really been on my radar... but i'm curious as to why they have so much more volume compared to your more traditional exchanges?  Like, over $80 billion more than Binance in a 24 hour period.   

Has Bitbank just become massively popular in Japan, or are they in someway shape or form tied to institutions? 

 

80 million, not billion

Edited November 7, 2018 by Jimmyt

[aavkk]

Separately, it's awesome to see that only 2 of the top 10 markets are XRP/BTC.