Global crypto trading volume to surpass $108 trillion in 2024
Anticipated projections for 2024 suggest that the worldwide volume of cryptocurrency transactions is set to soar past $108 trillion, marking an almost 90% increase from the figures recorded in 2022, as detailed in a recent Coinwire study. Leading the charge, the United States is expected to see its crypto trading volumes breach the $2 trillion threshold.
Since 2023, the realm of crypto trading has witnessed a 42% surge, with an impressive 89% expansion observed over the last trio of years. Such trends underscore the surging embrace and integration of digital currencies across the globe, as emphasized in the report.
In terms of regional dominance, Europe is at the forefront of crypto transactions, commanding 37.32% of the worldwide trading volume. Among its countries, Russia and the United Kingdom are noted for their substantial trade volumes. Positioned second and third on the global stage, Turkey and India each boast trading volumes that eclipse the $1 trillion mark.
With a 36.17% contribution, Asia ranks as the second-largest in terms of crypto transaction volume. This region's expeditious adoption can be traced back to widespread mobile usage, a strong technological framework, and escalating interest from the institutional sector.
Binance reaffirms its status as the premier choice for cryptocurrency exchange, reigning supreme in 100 of 136 countries surveyed. It reported a staggering trading volume of $2.77 trillion, leaving its challengers far behind.
Competing exchanges such as OKX and CEX.IO occupy significant standings, leading in 93 and 92 countries respectively, with their trading volumes recorded at $759 billion and $1.83 billion. Further contenders include Coinbase Exchange and Bybit, with dominant presences in 90 and 87 countries, showcasing volumes of $662 billion and $1.14 trillion respectively.
These statistics shed light on the dynamic battlefield of cryptocurrency exchanges and the pivotal role digital currencies are starting to play within the international financial ecosystem.
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Binance ByBit CoinW Coinbase Exchange OKX
