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Matthias Knab, Opalesque: While some skeptics might say that the 2024 crypto boom is largely fueled by Bitcoin's remarkable performance, meaning the market could easily take a downturn if Bitcoin falls, the reality is that crypto trades skyrocketed reaching one of the highest figures on record.
According to data presented by AltIndex.com, the average monthly trading volume on crypto exchanges hit over $1.5 trillion in 2024, or 135% more than last year.
The second-highest crypto trading volume so far
2024 has proven to be a groundbreaking year for the crypto market, with key developments propelling digital currencies to new heights. Regulatory clarity in major markets, the approval of Bitcoin spot ETFs, advancements in blockchain technology, and the growth of decentralized finance (DeFi) have fueled both institutional and retail adoption, turning 2024 into one of the best years for crypto trading.
Last month, the crypto market reached a three-year high in monthly trading volume, driven by regulatory clarity and heightened expectations following Donald Trump's election win. According to The Block, the total trading volume on crypto exchanges hit $2.7 trillion in November, trailing only behind the trading volumes seen in March, April, and May of 2021. However, December performed even better, with the monthly trading volume rising to over $2.7 trillion.
The surging trading volumes amid the crypto bull run have helped the monthly average t...................... To view our full article Click here
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