Regulation
Europe conquers the cryptocurrency market: $100 trillion at stake!
7:01 ▪ 3 min read ▪ by Eddy S.
The crypto market is booming, and the forecast for 2024 is impressive. According to a recent study, global cryptocurrency trading volume is expected to surpass $108 trillion by the end of 2024. This dramatic increase of nearly 90% from 2022 levels underscores the growing influence of digital assets in global finance.
Crypto: Europe leads with 37.32% of global transactions!
Europe is leading this growth, accounting for 37.32% of global cryptocurrency transactions. This European dominance is attributed to a proactive approach to regulation. Market regulation of Crypto-Assets (MiCA), launched in 2020 and signed in 2023, has provided a clear framework for businesses and investors, fostering an environment conducive to crypto innovation and adoption. As a result, transaction volumes in Europe are expected to reach $40.5 trillion in 2024! That’s a 270% increase from $15 trillion in 2022.
Another key driver of this growth is the growing interest of financial institutions in crypto. Exchange-traded funds (ETFs)FNB) and other cryptocurrency-related financial products are increasingly attracting institutional investors, further boosting trading volumes.
A sign of effective trade?
Advanced technology also plays a crucial role. Crypto exchanges, such as Binance, OKX, and Coinbase, continue to improve their infrastructure to offer faster and more secure transactions. Binance, in particular, dominates the market with a trading volume of $2.77 trillion, operating in over 100 countries.
The forecast of a crypto transaction volume of $108 trillion by 2024 reflects growing adoption and increased trust in digital assets. Europe, with its progressive regulations and its environment innovation-friendly, is in pole position to lead this growth. Financial institutions and advanced technologies will continue to play a central role in this expansion, marking a new era for the cryptocurrency market.
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Eddy S.
The world is changing and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in everything that is closely or remotely related to blockchain and its derivatives. To share my experience and promote a field that fascinates me, there is nothing better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.