Euro-denominated trading volumes surged to €50 billion in November 2024.
Bitvavo and Kraken lead the European market with record euro-denominated pairs.
Bitcoin surpassed $100,000, driving demand for euro-backed trades.
The European crypto market changed dramatically, with euro-denominated trading volumes reaching a multi-year high of nearly €50 billion in November 2024, according to Kaiko’s Research report. Exchanges like Bitvavo and Kraken compete for dominance in this growing ecosystem, driven by Bitcoin prices over $100,000 and rising interest in altcoins.
European exchanges have a record number of euro-denominated trading pairs and are seeing growing adoption of euro-backed stablecoins. As a result, the euro has become the third most traded fiat currency in the crypto world.
Euro-Denominated Trading Volume Doubles
In 2024, Europe’s crypto market changed significantly, with November’s euro-denominated trade volumes soaring to an amazing €50 billion, nearly doubling October’s levels. Also, weekly volumes reached a massive €12 billion, which is higher than the March 2024 peak.
Bitvavo and Kraken, two of Europe’s largest digita…
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