95% of Japanese Crypto Investors Invested Less than USD 9,200

95% of investments made by Japanese cryptocurrency investors are worth less than 1 million yen (around USD 9,200), data released by the newly formed Japan Virtual Currency Exchange Association (JVCEA) shows. Investors with holdings worth up to USD 46,000 account for some 4%.

The statistics were released by the self-regulatory body, which comprises all of the country’s Financial Services Agency (FSA)-licensed cryptocurrency exchanges, including market leaders such as Bitbank and BitFlyer.

Data also showed that the vast majority of Japanese cryptocurrency investors are aged 20-49. The JVCEA says that, per its members’ compiled data, some 3.5 million customers currently use their services, of which a massive 85% of Japanese exchange customers are in their twenties, thirties or forties. Over a third of investors are in their thirties, according to the data. By contrast, some 50% of securities investors are aged 60 or over.

The JVCEA held its first official meeting earlier this week, and vowed to help restore public confidence in the country’s cryptocurrency exchanges. Trust has been badly shaken in the wake of the Coincheck hack earlier this year, and wide-reaching FSA probes that have seen a number of exchanges in the country forced to close.

Taizen Okuyama, the JVCEA’s president, told reporters, “We want to ease customers’ concerns. We will work to restore public confidence and foster a healthy market.”