Study reveals that the dollar is the currency most used to buy cryptoactive

The management and technology consulting firm GreySpark revealed in a study published on Tuesday that the US dollar is the most used fiat currency for cryptocurrency negotiations.

The project is focused on the growing popularity of cryptocurrencies which had their best time in December last year when Bitcoin reached 20,000 USD.

The developers of GreySpark found that the prices of the cryptoactives were correlated with the search interest in Google. That is to say, the fluctuation margin of the BTC / Dollar prices corresponds to a large extent with the number of Google searches in December when it reached the historical mark previously mentioned.

In addition, the researchers assert that trading volumes in the cryptocurrency market have soared in most exchanges, mostly traded against the major fiat currencies, noting that in recent years the USD has become the fiat most negotiated in relation to digital currencies actively in that industry.

The study also indicates that during this year, more than 20 cryptocurrencies had a market capitalization of more than one billion dollars, after the total market capitalization of all the cryptocurrencies reached a record of more than $ 800 billion in January. 2018, surpassing the GDP of countries such as Argentina, Venezuela, Ecuador, among others.

The research divides countries into three groups based on the harshness of the country's official position on cryptography: Australia, South Korea, Switzerland and Japan are among those that quickly adopted cryptographic regulation and promoted digital currency products ; It is reported that Canada, the United States, Russia and others continue with more caution in terms of how to approach the new asset class.

China and Colombia are grouped around countries whose governments have adopted tougher positions regarding crypto, the introduction of prohibitions and other restrictions.

The GreySpark report also reports the lack of private information custody solutions in the cryptocurrency ecosystem, arguing that the market is waiting for large houses like State Street and Northern Trust, two US companies that focus on the development of financial solutions for the innovation the administrative sector.

As previously reported in the Coinbase research, the general interest in digital assets has led large universities to launch courses dedicated to the topic in question.

The Coinbase study showed that 42% of the top 50 universities in the world offer at least one course on cryptocurrencies and blockchain.

Source: CoinTelegraph