Trading Plunges at China’s Bitcoin Exchanges After Fees Levied
- Trader says liquidity dried up after market-making stopped
- Move by bourses seen as addressing regulators’ concerns
Why Money Keeps Flowing Out of China
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High-speed traders are pulling out of China’s bitcoin market after the three biggest venues started charging transaction fees on Tuesday.
One-hour volume at OkCoin fell 89 percent to 1,026 bitcoins at 1 p.m. local time, from 10,062 during the same period on Monday, according to the venue’s website. Huobi and BTC China saw declines of 92 percent and 82 percent respectively. Prices were little changed, at around 6,350 yuan per bitcoin.