Europe Leads Global Crypto Transactions: Report

Europe has emerged as the global leader in cryptocurrency transactions, capturing 37.32% of the total transactional value. This finding comes from a detailed analysis by Coinwire. Asia follows closely with significant contributions, driven by high mobile penetration, advanced tech infrastructure, and rising institutional interest. Meanwhile, Binance remains the most influential and widely used exchange, with a trading volume of $2.77 trillion.

Europe’s dominance in the crypto market can be attributed to its progressive regulatory frameworks and tech-savvy population. These factors make it a prime location for crypto investment and innovation. According to Coinwire, Europe leads with a trading volume of $40.51 trillion in 2024. Russia tops the list within Europe with over $633 billion in trading volume. The United Kingdom ranks second in Europe and sixth globally, with $624 billion. Despite the ongoing war, Ukraine holds the third spot in Europe, with a trading volume of approximately $442 billion. Ukrainians, on average, invest nearly three times their monthly rent into cryptocurrencies.

Slovenia, with a population of just over two million, stands out for its high trading volume per internet user across Europe. “Slovenia boasts the highest monthly cryptocurrency expenditure per capita, with individuals spending an average of $2,609 per month on crypto, over 3.46 times their monthly rent. This reflects strong confidence in digital assets and favorable regulations,” Coinwire reported.

Globally, Turkey and India rank second and third in trading volumes, each exceeding $1 trillion. The United States leads with volumes surpassing $2 trillion.

In the crypto exchange market, Binance holds the top position as the most influential and widely used exchange globally. Binance U.S., operating in 100 countries, follows closely. Okx, Cex.io, and Coinbase round out the top five most popular exchanges.