- Global crypto trading volume to reach $108 trillion in 2024, a 90% increase from 2022.
- Europe and Asia lead with 37.32% and 36.17% of global transaction value.
- Africa’s crypto trading volume will grow fivefold by 2024, hitting $10.8 trillion.
Reflecting a significant 90% rise from 2022, a recent CoinWire analysis indicates that worldwide cryptocurrency trade volume is expected to top $108 trillion in 2024. Leading the acceptance and spread of crypto assets, Europe and Asia are the key causes of this development.
#Opinion
— KickEX (@kickexcom) July 14, 2024#CoinWire predicts cryptocurrency trading volume to exceed $108 trillion this year
Based on their research, the platform's analysts believe that the volume of global digital asset trading is just beginning to gain momentum, and significant growth in the inflow of… pic.twitter.com/65sOKkNAeh
Over the previous three years, Europe boasts an 89% increase in the worldwide crypto market currently leading the market with 37.32% of the worldwide crypto transaction value. From $15 trillion in 2022 to $40.5 trillion in 2024, the analysis forecasts a notable jump in Europe’s crypto trade volume, a 270% increase.
Asia is predicted to contribute 36.17% of the global crypto transaction value and reach a trade volume of $39.3 trillion in 2024. The study also highlights Africa’s prominent rise in cryptocurrency trading; volumes in 2024 are five times higher than in 2022 and is predicted to trade $10.8 trillion this year, up from $2.7 trillion in 2023.
Trading cryptocurrencies has exploded by 300% during the past three years throughout South America. Project trade volumes of $7.82 trillion this year, growing from $2.29 trillion in 2022 and $3.03 trillion in 2023.
By contrast, the only continent whose crypto trade volume has dropped is North America with trading volumes dropping from $10.3 trillion in 2022 and are expected to drop even further to $7.7 trillion in 2024, following a peak of $13.6 trillion in 2023.
The United States is expected to have the greatest cryptocurrency trading volume in 2024, exceeding $2 trillion. Turkey and India are anticipated to follow soon, with trade volumes reaching $1 trillion this year. These patterns reflect the evolving dynamics of the global cryptocurrency economy, with developing markets driving development and acceptance.
The CoinWire report highlights the global cryptocurrency market’s fast expansion and ever-changing landscape. Europe and Asia are leading this increase, with large contributions from Africa and South America. In contrast, North America is declining, reflecting distinct regional patterns and regulatory consequences. The expected estimates for 2024 show that bitcoin trade is continuing to grow and become increasingly important worldwide.
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