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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/global-cryptocurrency-market-sees-significant-growth-in-recent-years/" data-wpel-link="internal">Global Cryptocurrency Market Sees Significant Growth in Recent Years</a> 
The global <a href="https://en.coin-turk.com/bitcoin-and-altcoins-reclaim-their-peaks-as-crypto-markets-surge/" data-wpel-link="internal">cryptocurrency market</a> has seen significant growth in recent years, reflecting its increasing mainstream acceptance and adoption. Coinwire analyzed data from 136 countries and considered four critical factors to estimate each country’s cryptocurrency trading volume and presented a comprehensive report on other important issues. Coinwire’s considered data includes web traffic, website language, headquarters location, and trading time zone. This multifaceted approach provides a nuanced understanding of the major players in the cryptocurrency market. 
<h2 style="text-align: justify" id="strong-notable-detail-about-turkey-in-the-report-strong">Notable Detail About Turkey in the Report</h2> 
Coinwire started its study by compiling a list of centralized exchanges (CEX) with a trust score of over 6 from CoinGecko. Due to the decentralized nature of cryptocurrency trading volume data, a methodological approach was adopted. Factors such as web traffic by country, supported languages, headquarters location, and trading time zones were evaluated for each exchange and weighted accordingly to estimate trading volume. 
The study’s key findings reveal that global cryptocurrency trading volume is expected to exceed $108 trillion in 2024, an increase of approximately 90% compared to 2022. Currently, the United States holds the title of the country with the highest estimated cryptocurrency trading volume, surpassing $2 trillion in 2024. Europe leads in cryptocurrency trading, accounting for 37.32% of global trading volume, while Turkey and India rank 2nd and 3rd globally, each with trading volumes exceeding $1 trillion. 
<h2 style="text-align: justify" id="strong-europe-becomes-the-number-one-market-strong">Europe Becomes the Number One Market</h2> 
According to the study, global cryptocurrency trading volume has increased significantly by 42% since 2023. Over the past three years, the market has grown by an impressive 89%, reflecting the increasing global acceptance and adoption of cryptocurrencies. Europe has emerged as the leader in this evolving market, accounting for 37.32% of global cryptocurrency trading volume. The region has become a hub for crypto innovation and investment due to progressive regulatory frameworks and a tech-savvy population. Asia ranks second, contributing 36.17% to the world’s cryptocurrency trading volume, driven by high mobile penetration, robust <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">technology</a> infrastructure, and increasing institutional interest. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-369705" src="https://coin-turk.com/wp-content/uploads/2024/07/Kripto-Para-Hacim.png" alt="" width="1946" height="920"> 
Europe’s cryptocurrency trading volume is expected to reach $40.5 trillion in 2024, a 2.7-fold increase from $15 trillion in 2022. The estimated volume for 2023, highlighting Europe’s growing influence in the global cryptocurrency market, is approximately $19.9 trillion. These significant growth figures are attributed to a strong financial infrastructure, progressive regulations, and the increasing adoption of cryptocurrencies in the region. 
In Europe, Russia leads in cryptocurrency trading, ranking among the top five globally with an estimated trading volume exceeding $633 billion. Closely following is the United Kingdom, with a trading volume exceeding $624 billion, making it the second-largest market in Europe and the sixth-largest globally. London’s advanced <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial services</a> and supportive government policies have increased the importance of the United Kingdom. 
<h2 style="text-align: justify" id="strong-slovenia-leads-in-per-capita-cryptocurrency-spending-strong">Slovenia Leads in Per Capita Cryptocurrency Spending</h2> 
Slovenia reflects strong confidence in cryptocurrencies and favorable regulations, with individuals spending an average of $2,609 per month on cryptocurrencies, the highest per capita monthly cryptocurrency spending. 
Ukraine serves as a significant alternative to fiat currency amid economic instability, with citizens spending nearly three times their monthly rent on cryptocurrencies. This highlights the practical utility of cryptocurrencies in preserving value. 
<h2 style="text-align: justify" id="strong-binance-continues-to-maintain-its-throne-strong">Binance Continues to Maintain Its Throne</h2> 
According to the study, the Binance exchange leads the cryptocurrency exchange market with an astonishing trading volume of $2.77 trillion in 100 countries. This positions Binance as the most influential and widely used cryptocurrency exchange globally. Following closely is Binance US, the US branch of Binance, with a significantly lower trading volume of $3.9 billion, dominating 100 countries. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369706" src="https://coin-turk.com/wp-content/uploads/2024/07/Kripto-Para-Borsalari.png" alt="" width="799" height="814"> 
OKX and CEX.IO stand out as leaders in 93 and 92 countries, respectively, with trading volumes of $759 billion and $1.83 billion. Coinbase and Bybit dominate 90 and 87 countries, respectively, with trading volumes of $662 billion and $1.14 trillion. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/global-cryptocurrency-market-sees-significant-growth-in-recent-years/" data-wpel-link="internal">Global Cryptocurrency Market Sees Significant Growth in Recent Years</a></h5>

Global Cryptocurrency Market Sees Significant Growth in Recent Years

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