Regulation
Cryptocurrency trading volume to exceed $108 trillion by 2024, especially in Europe, study finds – DL News
- Europe will account for 37% of global cryptocurrency transaction value by 2024, study finds.
- Asia follows closely with 36%.
- The study cites Europe’s progressive regulatory framework.
Global cryptocurrency industry trading volume to exceed $108 trillion by the end of 2024, up 90% from 2022, report says study by CoinWire.
Europe will become the leading region, accounting for 37% of the value of global cryptocurrency transactions this year, the study predicts.
Trade volume in Europe is expected to reach $40.5 trillion in 2024, a 270% increase from its $15 trillion volume in 2022.
The estimated volume for 2023 was nearly $19.9 trillion.
This projected growth underlines Europe’s growing influence in the global cryptocurrency market, amid strong financial infrastructure, growing adoption of digital assets and a progressive regulatory framework.
The stablecoin rules of the EU Crypto-Asset Markets Regulation came into force last month, DL News reportedwith regulations for crypto asset service providers to be implemented in December.
Just behind Europe, Asia ranks second in the study, contributing 36% of the value of global crypto transactions and is expected to reach $39.3 trillion by the end of the year.
Asia is followed by Africa with $10.8 trillion, South America with $7.8 trillion and North America with $7.7 trillion in estimated trade volume for 2024.
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The study looked at centralized exchanges on CoinGecko with trust scores above 6 and took into account web traffic by country, peak time zones, supported languages, and headquarters locations to calculate trading volume by country.
Cryptocurrency Market Players
- Bitcoin is up 3.36% today at $60,070.15.
- Ethereum is up 1.76% today to $3,194.02.