Markets
Europe conquers the cryptocurrency market: $100 trillion at stake!
7:01 ▪ 3 min read ▪ by Eddy S.
The cryptocurrency 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, nearly 90% higher than 2022 levels, highlights the growing influence of digital assets in global finance.
Crypto: Europe leads with 37.32% of global transactions!
Europe is at the forefront of this growth, accounting for 37.32% of global cryptocurrency transactions. This European dominance is attributed to a proactive regulatory approach. The regulation on Launched in 2020 and signed in 2023, MiCA (Crypto-Asset Markets) has provided a clear framework for businesses and investors, fostering an environment conducive to innovation and adoption of cryptocurrencies. As a result, the transaction volume in Europe is expected to reach $40.5 trillion in 2024! This represents a 270% increase from $15 trillion in 2022.
Another key driver of this growth is the growing interest of financial institutions in cryptocurrencies. Exchange Traded Funds (FNB) and other cryptocurrency-related financial products are increasingly attracting institutional investors, which in turn further boosts trading volumes.
A sign of effective trade?
Technological advancements also play a crucial role. Cryptocurrency 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 the growing adoption and increased trust in digital assets. Europe, with its progressive regulations and its environment The innovation-friendly cryptocurrency market is well-positioned to lead this growth. Financial institutions and technological advancements 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.