Regulation
Cryptocurrency Trading Volume to Surpass $108 Trillion in 2024, Led by Europe, Study Says – DL News
- According to a study, Europe will account for 37% of the global value of cryptocurrency transactions by 2024.
- Asia follows closely behind with 36%.
- The study cites Europe’s progressive regulatory framework.
According to a report, the global cryptocurrency industry trading volume will exceed $108 trillion by the end of 2024, 90% higher than in 2022. study Of Coin thread.
According to the study, Europe will emerge as the leading region, accounting for 37% of the global cryptocurrency transaction value this year.
In 2024, trade volume in Europe is expected to reach $40.5 trillion, up 270% from $15 trillion in 2022.
The estimated volume for 2023 was nearly $19.9 trillion.
This projected growth underscores Europe’s growing influence in the global cryptocurrency market, amid a robust financial infrastructure, growing adoption of digital assets, and a progressive regulatory framework.
Last month, the EU’s cryptocurrency markets regulation came into force on stablecoins, DL News reportedwith regulations for cryptocurrency service providers to be implemented in December.
Following Europe, Asia ranked second in the study, contributing 36% of the global cryptocurrency transaction value and expected to reach $39.3 trillion by the end of the year.
Africa follows 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 examined centralized exchanges on CoinGecko with trust scores above 6 and took into account web traffic by country, peak time zones, supported languages, and headquarters to calculate trading volume by country.
The drivers of the cryptocurrency market
- Bitcoin rose 3.36% to $60,070.15 today.
- Ethereum rose 1.76% today to $3,194.02.