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Singapore’s cryptocurrency market grew sharply over the year through June, with total transaction volume reaching $284 billion, up 55.4% from a year earlier, Cointelegraph reported, citing Chainalysis.
That helped Singapore regain its position as the largest cryptocurrency market in Central, Southern Asia and Oceania. Growth was led by institutional activity, with trading volume on institutional platforms rising 94% to $60 billion. Most of that trading was concentrated among a small number of market makers, OTC firms and institutional brokers.