New data from Coinmarketcap shows that the cryptocurrency is gaining a significant foothold in Japan.
The cryptocurrency’s price increased by more than 4x in just a week, and it’s been on a roll since the launch of Bitcoin Cash last month.
Coinmarketcarls new data shows that its trading volume is now at a rate of $2.6 million per day.
That’s a significant gain from just a few weeks ago, when its trading volumes were around $1 million.
The rise in activity came just as Japan saw the launch on December 16 of a new bitcoin exchange platform, called Bitfinex.
The platform was supposed to allow Japanese investors to buy bitcoin and cash on a national level, but instead it has been the source of a lot of controversy in the cryptocurrency world.
A number of Japanese businesses have taken issue with the exchange’s move to take over Bitcoin Cash.
The exchange has since closed, and Bitfinext has been shuttered as well.
The company has since announced plans to relaunch on January 10.
The news comes as Japan has seen a number of bitcoin and altcoin-related events in the past few weeks, including an all-day rally on November 15 and a major surge in the value of bitcoin at the beginning of December.