According to a report from the analytical portal CoinWire, digital asset trading in Europe will be worth at least $40 trln by the end of 2024, which is 2.7x more than $15 trln in 2022. In total, cryptocurrency trading volume will exceed $108 trln by the end of the year. How realistic are these forecasts?
Europe is moving resolutely along the path of active trading in cryptocurrencies and other digital assets. The expansion of volumes has most likely been impacted by the roll-out of ad hoc spot ETFs. Investors do not need to buy the asset itself; they can simply buy a share in such a fund and own part of the asset. This simplifies and popularizes cryptocurrency trading.
Additionally, this year companies issuing crypto ETFs have started to lower their transaction fees. This also attracts investors to cryptocurrency.
In view of these drivers, cryptocurrency trading volumes will likely exceed $108 trln by end-2024.
