- The global crypto trading volume is anticipated to exceed $108 trillion this year, marking an almost 90% rise from 2022.
- Europe is at the forefront of this expansion, accounting for 37.32% of the total crypto transaction value and expected to increase 2.7 times compared to 2022.
- Russia is leading Europe in crypto trading, with a trading volume surpassing $633 billion, followed by the United Kingdom with over $624 billion.
Discover how Europe’s regulatory environment and technological adoption are driving significant growth in the crypto trading market for 2024.
Europe’s Crypto Trading Market: An Unprecedented Boom
Europe’s crypto trading market is witnessing unprecedented growth, driven by advanced regulatory practices and a tech-savvy population. According to CoinWire, Europe’s trading volume could reach $40.5 trillion in 2024, up from $15 trillion in 2022. This surge underscores the continent’s growing influence in the global crypto landscape.
Russia: The European Crypto Powerhouse
Russia dominates Europe’s crypto trading scene, with a volume exceeding $633 billion, placing it among the top five globally. The United Kingdom is not far behind, with a trading volume of over $624 billion. London’s advanced financial services and favorable government policies make it a burgeoning hub for crypto activity.
Diverse Regional Growth Patterns in Crypto Trading
Europe’s growth is complemented by significant strides across other continents. Asia’s trading volume is projected to rise to $39.3 trillion in 2024 from $27.1 trillion in 2022, driven by expanding market conditions. Africa’s trading volume is expected to grow to $10.8 trillion in 2024, up from $2 trillion in 2022, with Nigeria and South Africa leading the charge.
South America’s market is also on the rise, projected to reach $7.82 trillion by 2024, a substantial increase from $2.29 trillion in 2022. This growth reflects a robust adoption of digital assets across different regions.
North America’s Declining Trend
In stark contrast to other regions, North America is experiencing a downward trend in crypto trading volumes. After peaking at $13.6 trillion in 2023, the volume is expected to decrease to $7.7 trillion in 2024, down from $10.3 trillion in 2022. This decline might be a result of stricter regulatory measures or market maturity.
Conclusion
The global crypto trading volume is set to see substantial growth, led by Europe’s innovative regulatory frameworks and technological adoption. With significant contributions from Asia, Africa, and South America, the crypto market is expanding its global footprint. However, the decline in North America’s trading volume highlights the dynamic and constantly evolving nature of this market, influenced by varying regional regulations and market conditions.
