TechFlow reports, Ark Invest analyst Yassine Elmandjra wrote in a report on Monday that regulatory uncertainty in the United States appears to be discouraging both established companies and new entrants from participating in the cryptocurrency market. This could lead to the U.S. losing its leading position in the global crypto ecosystem, being overtaken by countries such as the UAE, South Korea, Australia, and Switzerland. Citing data from CoinMetrics, Elmandjra pointed out that since March, daily Bitcoin trading volume in the U.S. has dropped from $20 billion to around $4 billion, a decline of 75%. Additionally, last week Bitcoin's price on Binance.US was $600 higher than on other exchanges, indicating weaker price discovery capability in the U.S.
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