Among them, two of the most popular altcoins in Japan are XRP(Ripple) and XEM(NEM).XRP has been popular for a long time in Japan for whatever the reason.
But most people are probably just theorizing on little evidence and have no idea what’s really causing this bubble. Newly entering Japanese investors are driving this great altcoin bubble and not-so-smart money is flowing into the space especially into some altcoins at a rather concerning rate.
The past few weeks especially, the crypto space has been seeing an unprecedented bull run across almost all coins.
Despite the never ending debates and politics within the Bitcoin community over the scaling debate, the bitcoin price has climbed up to all time high all the way over $1700 and it looks like it may go even higher from here.
While the Bitcoin price increase alone is very impressive, many other altcoins such as Ether and XRP are making even more killings and their prices increased 5 or even 10-fold in mere several weeks.
According to Coinhills, the JPY-BTC market is ranked first ahead of the USD market and now accounts for more than one third of the world’s total trading volume on average.