Quote from: figmentofmyass on Today at 10:10:44 PM

in 2017, japan was a big deal. i always had a tab open for bitflyer BTC/JPY, and so did other traders i know of. at one point BTC/JPY even represented 60% of all reported trading volume: https://www.cnbc.com/2018/06/22/bitcoin-tumbles-after-japan-watchdog-orders-exchanges-to-review-business-practices.html

after strict crypto regulations were passed, japanese exchange volume plummeted and japan fell off the radar. most of it was fake to begin with i'm sure, but fake volume can have a powerful effect. before 2017, we used to follow chinese exchanges for the same reason.

That's a very good point. You've reminded me the biggest Japanese exchanges had zero fee trading just like China. That makes whatever impact Japan had at the time doubly irrelevant. They're well ahead in terms of retail adoption compared to most places. I'd be very intrigued to know if it's anywhere above negligible.