Singapore Institutional Cryptocurrency Trading Activity Surges 94%
Singapore's cryptocurrency market has grown significantly, CoinTelegraph reported. According to Chainalysis, Singapore's crypto transaction volume reached $284 billion in the year leading up to June this year, a 55.4% increase from the previous year. As a result, it has regained its status as the largest cryptocurrency market in Central and South Asia and Oceania. The growth was primarily institution-driven. Institutional platform trading volume increased by 94% to $60 billion, with most transactions concentrated among a small number of market makers, OTC firms, and institutional brokers.
