Crypto trading volume is projected to surpass $108 trillion in 2024, with Europe taking the lead in global transaction value and Binance emerging as the most dominant exchange worldwide. According to a study by CoinWire, the global crypto trading industry is set for significant growth, with trading volumes expected to increase by 90% from 2022.
United States and Europe: Key Players
The United States is predicted to have the highest crypto trading volume, exceeding $2 trillion by the end of the year. However, Europe is leading in global cryptocurrency transaction value, accounting for 37.32% of the market.
Europe’s Proactive Stance on Regulation
Europe is one of the most proactive regions in defining its cryptocurrency industry through comprehensive regulations. These regulations aim to help lawmakers understand financial technology better and provide traders and exchanges with clear guidelines for navigating the market.
The European Union’s landmark Markets in Crypto–Assets Regulation (MiCA) partially took effect on June 30, focusing on stablecoins. Additional regulations for crypto asset service providers are set to come into effect in December. This legislative framework, which has been in development since 2020, represents the EU’s first set of uniform market rules for crypto assets.
Summary Review: The projected increase in crypto trading volume highlights the growing adoption and integration of cryptocurrencies into the global financial system. With Europe leading in transaction value and the U.S. in trading volume, the regulatory frameworks being established are expected to provide a more stable and transparent environment for the continued growth of the crypto industry.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision
