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

enter image description here

Is this true?

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    What statistic is that chart supposed to be measuring? Volume, holdings, something else?
    – Nate Eldredge
    Jan 15, 2017 at 4:58

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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.

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