Europe Leads Global Crypto Trading Volume
Global crypto trading is poised to experience significant growth, with a study from CoinWire predicting that industry trading volume will surpass $108 trillion by the end of 2024.
The study indicates that this end-of-year estimate represents a 90% increase compared to 2022.
The United States is expected to lead with the highest projected crypto trading volume for the year, exceeding $2 trillion.
While the US may have the highest trading volume, Europe leads in global cryptocurrency transaction value, accounting for 37.32%.
Europe is highly proactive in defining its cryptocurrency industry through regulations.
These regulations aim to help lawmakers understand financial technology and provide traders and exchanges with clear market guidelines.
The European Union’s Markets in Crypto-Assets Regulation partially took effect on June 30, focusing on stablecoins.
Additional regulations for crypto asset service providers will come into effect in December.
This legislative framework, in development since 2020, represents the EU’s first set of uniform market rules for crypto assets.
The study expects Europe’s cryptocurrency trading volume to reach $40.5 trillion in 2024, a 2.7-fold increase from $15 trillion in 2022.
Asia ranks second, accounting for 36.17% of the world’s cryptocurrency transaction value.
The study's conclusions were based on analyzing centralized exchanges with trust scores higher than six on CoinGecko.
The analysis considered web traffic by country, supported languages, headquarters location, and trading time zones.
Sources:
https://cointelegraph.com/news/ethereum-etf-inflows-10-billion-eth-new-highs-analyst
Try to invite your friends and earn together
10% of trading fees of your friends and 5% from the earnings of your friends.
