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.
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.
Donors from Wall Street, Silicon Valley, and Hollywood played a key role in helping Vice President Kamala Harris’ fundraising efforts in August, giving Democrats a financial advantage over Donald Trump on the cusp of the run-off election.
Pro-XRP attorney John Deaton, who has secured the Republican nomination for a Massachusetts Senate seat, will face off against Democratic Senator Elizabeth Warren in a highly anticipated debate on October 15, 2024.
Ripple Chairman Chris Larsen has recently moved 20 million XRP as part of a larger shuffle involving 50 million tokens.
Tensions surrounding the Ripple vs. SEC lawsuit are intensifying as discussions about a potential appeal gain traction.