USD/JPY transaction volume on the decentralized finance (DeFi) platform Gains Network surpassed BTC/USD transaction volume by a wide margin.
geopolitical wars And macroeconomic uncertainties It brought with it theories that the problems could become more global. In connection with this, especially dollar And japanese yen There were significant increases in transaction volumes.
According to data from Dune Analytics, the DeFi platform on Gains Network USD/JPY trading pair in the last 24 hours $21.64 million hosted the transaction volume. This data shows that BTC/USD $15.51 million from transaction volume 40% more It revealed that the volume was revolving around USD/JPY.
USD/JPY The trading pair is also the last 1 week And 1 month It became the fourth most traded pair. In similar time periods GBP/USD While it was the third most traded parity EUR/JPY ranked fifth.
Bets on JPY
Investors USD/JPY The most frequently preferred futures direction when placing demand on the trading pair is short happened. Only one account, USD/JPY trading pair $8.26 million worth short He attracted attention by opening a position. This transaction involves a prediction that the dollar will depreciate and the JPY will appreciate.
Generally speaking, investors believe that the US-centered economic crisis will grow and Japan will come to the fore more firmly in this process.
About subject explanationA social media user named DefiMoon made the following statements:
Someone on GainsNetwork is betting big on the Bank of Japan’s intervention in JPY foreign exchange markets. By the way, these are probably the largest foreign exchange transactions on GainsNetwork since the launch of the platform.
It is thought that the war between Israel and Palestine that started recently and the possibility of a global war that may arise from the war between Russia and Ukraine may have caused this parity to gain weight.
According to TradingView data 150 located at the level USD/JPY parity The peak in October 2022 It is located just below.