China is 98% of the bitcoin market? I saw the following graphic listing the source as Bitcoinity claiming that the Chinese exchanges are 98% of the "global bitcoin market".



Is this true?
Chinese Bitcoin exchanges don't take a fee per trade and some actually reduce the withdrawal fee if more trades were made.

Outside of China, exchanges usually take a fee on each trade. The volumes therefore are not really comparable, and I sincerely doubt that the actual economic activity is so much bigger in China.