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.
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.
Investor and entrepreneur Anthony Pompliano is rolling his private outfit, ProCap BTC LLC, into blank-check firm Columbus Circle Capital to form ProCap Financial, a new Nasdaq-listed business built around Bitcoin.
FTX’s legal team has moved to dismiss a $1.53 billion claim filed by Three Arrows Capital (3AC), calling it an exaggerated and baseless attempt to recover losses from risky trading.
FTX’s liquidators have filed a strong objection to a multi-billion-dollar claim by failed hedge fund Three Arrows Capital (3AC), arguing the request is based on exaggerated and misleading figures.
Veteran investor Jeffrey Gundlach is signaling a major turning point in global capital flows, suggesting that the era of U.S. market dominance may be drawing to a close.