Nikkei Index plunges, Japanese CEX trading volume surges by 200%

Gate News reports that on March 9, following a sharp decline in Japan’s Nikkei Index, a Tokyo-based Japanese CEX experienced a surge in trading volume. CoinGecko data shows that this exchange’s 24-hour trading volume increased by 200%, far surpassing a certain US CEX’s 112% and another CEX’s 75%. Meanwhile, a Korean CEX rose by 27.1%, and another Korean CEX increased by 49%. During Asian trading hours, Bitcoin against the Japanese Yen rose approximately 2.05%, outperforming the 1.86% gain against the US dollar and the 1.64% increase against the Korean Won. This reflects the weakening of the Yen and coincides with a surge in Japanese trading activity. Japan’s stock market fell about 6.5% on Monday, and the Korea Composite Stock Price Index (KOSPI) dropped around 8%, triggering a circuit breaker (a temporary halt during market crashes). Analysts note that the Korean market reacted more strongly to oil price shocks due to its heavy reliance on imported energy, with about 70% of crude oil coming from the Middle East. Although Japan’s stock market also declined significantly, its more diversified components made it relatively more resilient, which also explains why Japanese crypto trading surged even as the stock market fell.