Study says cryptocurrency trading volume will exceed $108 trillion in 2024, led by Europe – DL News

July 14, 2024

Study says cryptocurrency trading volume will exceed 8 trillion in 2024, led by Europe – DL News

According to the study, Europe will account for 37% of the global crypto transaction value in 2024.
Asia follows closely behind with 36%.
Study points to Europe’s advanced regulatory framework.

According to a study by , the global trading volume of the crypto industry will exceed $108 trillion by the end of 2024, 90% more than in 2022. CoinWire.

Europe will emerge as the leading region, accounting for 37 percent of global crypto transaction value this year, the study predicts.

Trade volume in Europe is expected to reach $40.5 trillion in 2024, an increase of 270% from $15 trillion in 2022.

The estimated volume for 2023 was almost $19.9 trillion.

This projected growth underscores Europe’s growing influence in the global crypto market, which is based on strong financial infrastructure, increasing use of digital assets and an advanced regulatory framework.

The stablecoin rules of the EU’s Markets in Crypto Assets Regulation came into force last month. DL News It was reported that regulations for crypto asset service providers are set to come into force in December.

Close behind Europe is Asia, which ranks second in the study, contributing 36 percent to the global value of crypto transactions and is expected to reach $39.3 trillion by the end of the year.

Asia was followed by Africa with $10.8 trillion, South America with $7.8 trillion and North America with $7.7 trillion in estimated trade volumes for 2024.

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The study examined centralized exchanges on CoinGecko with trust scores above 6 and considered web traffic by country, peak trading time zones, supported languages, and headquarters locations to calculate trading volume by country.