Crypto Market Poised for 90% Increase in Trading Volume by 2024

Cryptocurrency trading worldwide is seeing a significant upswing, with CoinWire forecasting that trading volumes will hit $108 trillion by the end of 2024, marking a 90% rise since 2022.

The United States is expected to lead with over $2 trillion in trading volume, while Europe leads in transaction value, making up 37.32% of the global share.

Europe’s proactive regulatory stance, highlighted by the Markets in Crypto-Assets Regulation that took effect in June, has provided clear guidelines for the industry.

Further regulations are expected by December, aiming to establish a comprehensive market framework for crypto assets. The region’s trading volume is projected to reach $40.5 trillion in 2024, up from $15 trillion in 2022.

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Asia also plays a significant role, contributing 36.17% of global transaction value. Binance remains the dominant exchange across more than 100 countries, with a trading volume of $2.77 trillion.

OKX, Cex.io, Coinbase, and Bybit are also major players, each operating in numerous countries with substantial trading volumes. The surge in global crypto trading, coupled with increasing regulatory clarity, signals a rapidly evolving and maturing industry poised for continued growth.

Alexander Stefanov