Report: The global cryptocurrency trading volume will exceed 108 trillion US dollars by the end of the year, with Europe taking a leading position

According to a study published by CoinWire, the global cryptocurrency trading volume is set to significantly increase, exceeding $108 trillion by the end of 2024, nearly 90% higher than that of 2022. The study was compiled using a list of CEXs with trust scores greater than 6 on CoinGecko. CoinWire revealed that it also collected other data such as "the web traffic of each CEX in different countries/regions, peak trading time zones, languages supported by each CEX and headquarters of each CEX".

The report shows that in terms of single-country trading volume, the United States currently ranks first globally. As for Europe as a region, its cumulative cryptocurrency trading volume accounts for 37.32% of the global market. On the other hand, Asia accounts for 36.17% of global digital currency trading volume, ranking second only after Europe and highlighting geographical diversity and overall growth. The report suggests that the size of this European-led global market may be attributed to its 'progressive' approach towards cryptocurrency regulation.