{"id":27554,"date":"2020-08-21T14:26:14","date_gmt":"2020-08-21T11:26:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27554"},"modified":"2025-08-26T21:41:04","modified_gmt":"2025-08-26T18:41:04","slug":"chainalysis-analyzes-east-asia-on-chain-activity-chinese-capital-flowing-into-usdt","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/chainalysis-analyzes-east-asia-on-chain-activity-chinese-capital-flowing-into-usdt\/","title":{"rendered":"Chainalysis analyzes East Asia on-chain activity \u2014 Chinese capital flowing into USDT"},"content":{"rendered":"<p>Over the past year, cryptocurrency addresses from East Asian countries received $107 billion. The share of Bitcoin in the on-chain value transferred in the region stood at 51%, while stablecoins accounted for 33%. These estimates come from a new Chainalysis study.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Another preview of our Geography of Cryptocurrency Report is here! This week, we cover East Asia, the world\u2019s biggest crypto market by transaction volume. Read to learn about professional trading strategy in the region, the role of stablecoins, and more! <a href=\"https:\/\/t.co\/wG9lmVfSfj\">https:\/\/t.co\/wG9lmVfSfj<\/a><\/p>\n<p>\u2014 Chainalysis (@chainalysis) <a href=\"https:\/\/twitter.com\/chainalysis\/status\/1296445232771485697?ref_src=twsrc%5Etfw\">August 20, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div id=\"attachment_108092\" style=\"width: 634px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-108092\" class=\"wp-image-108092 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-265.png\" alt=\"Chainalysis analyzed on-chain activity in East Asia \u2014 capital from China flows into USDT\" width=\"624\" height=\"385\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-265.png 624w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-265-300x185.png 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><\/p>\n<p id=\"caption-attachment-108092\" class=\"wp-caption-text\">Share of various cryptocurrencies in the on-chain value transferred to East Asian addresses. Source: Chainalysis.<\/p>\n<\/div>\n<p>The $107 billion for East Asian addresses exceeded Western Europe\u2019s figure by 77%, placing Western Europe second.<\/p>\n<p>The volume of funds sent from East Asian wallets to other regions was $50 billion, Chainalysis estimated. For comparison, Western Europe accounted for $38 billion.<\/p>\n<p>Experts linked the large size of such flows to the Chinese authorities\u2019 capital controls, which cap outbound capital at $50,000. For Chinese residents, moving into USDT has become a more convenient form than buying foreign real estate, which has become easier for officials to monitor, the analysts noted.<\/p>\n<blockquote>\n<p>\u201cTether has become a substitute for the US dollar for many in China,\u201d commented Dovi Wan, managing partner at Primitive Ventures.<\/p>\n<\/blockquote>\n<div id=\"attachment_108091\" style=\"width: 634px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-108091\" class=\"wp-image-108091 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-August-21-2020-2_14-PM.png\" alt=\"Chainalysis analyzed on-chain activity in East Asia \u2014 capital from China flows into USDT\" width=\"624\" height=\"385\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-August-21-2020-2_14-PM.png 624w, https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-August-21-2020-2_14-PM-300x185.png 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><\/p>\n<p id=\"caption-attachment-108091\" class=\"wp-caption-text\">Structure of on-chain transactions involving stablecoins. Source: Chainalysis.<\/p>\n<\/div>\n<p>Altcoins accounted for a larger share of the on-chain value transferred in East Asia than in other regions, while Bitcoin\u2019s share was lower.<\/p>\n<p>The basis for calculations in the new report included transactions with BAT, BCH, BNB, BTC, BUSD, CRO, CRPT, DAI, ETH, GNO, GUSD, HT, HUSD, ICN, LEO, LINK, LTC, MCO, MKR, MLN, OMG, PAX, PAXG, TGBP, TUSD, USDC, USDT, WETH, ZIL, ZRX.<\/p>\n<p>Earlier, The Block analysts estimated that the total value of USDT payments in 2019 was $212 billion.<\/p>\n<p>Recently, the issuer of the stablecoin <a href=\"https:\/\/u1f987.com\/en\/news\/tether-integrates-into-ethereum-sidechain-with-thousands-of-tps\">stated<\/a> the release of a coin on the OMG Network sidechain (formerly OmiseGO), a scaling solution for Ethereum.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"qei12xtp9r\">\n<p>What is Tether (USDT)?<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"What is Tether (USDT)? \u2014 ForkLog\" src=\"https:\/\/u1f987.com\/cryptorium\/chto-takoe-tether\/embed#?secret=db4hz0MA4Q#?secret=qei12xtp9r\" data-secret=\"qei12xtp9r\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Forklog previously reported on Sino Global Capital\u2019s research, whose analysts identified 100,000 retail and institutional investors in China who are USDT buyers.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past year, cryptocurrency addresses from East Asian countries received $107 billion. The share of Bitcoin in the on-chain value transferred in the region stood at 51%, while stablecoins accounted for 33%. These estimates come from a new Chainalysis study.<\/p>\n","protected":false},"author":1,"featured_media":27555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,133,1145,1245],"class_list":["post-27554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-china","tag-market-analysis","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27554"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27554\/revisions"}],"predecessor-version":[{"id":27556,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27554\/revisions\/27556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27555"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}