Global Crypto Trading Set to Explode in 2024

In 2024, global cryptocurrency trading is set to reach over $108 trillion, a dramatic increase of nearly 90% from 2022, according to Coinwire.

The U.S. is expected to lead this surge, with trading volumes projected to exceed $2 trillion.

Crypto trading volumes have grown 42% since 2023, reflecting a broader market expansion of 89% over the past three years. This growth underscores a worldwide rise in the adoption of digital assets.

Europe is the largest player in crypto trading, responsible for 37.32% of the global transaction value, with Russia and the UK leading in volume. Turkey and India are significant contributors, each surpassing $1 trillion in trading activity.

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Asia ranks second in global crypto transaction value, holding 36.17% of the market. The region’s growth is driven by high mobile usage and strong technological infrastructure.

Binance remains the top crypto exchange, leading in 100 of 136 countries with a trading volume of $2.77 trillion. Other major exchanges include OKX and CEX.IO, with volumes of $759 billion and $1.83 billion, respectively. Coinbase and Bybit also have substantial volumes, trading in 90 and 87 countries.

Despite recent market turbulence, including the collapse of FTX and regulatory hurdles, centralized exchanges drove $36 trillion in trading last year, spurred by optimism around U.S. Bitcoin ETFs. The latest data also shows stablecoins surpassing Visa’s monthly transaction average, highlighting their growing influence in the financial landscape.

Alexander Stefanov