Global crypto trading volume surged to $13.3 trillion in 2024, nearly doubling 2023’s figures and marking the second-highest in history. Key drivers include regulatory clarity, Bitcoin ETFs, and DeFi growth. Crypto markets now average $1.33 trillion monthly, narrowing the gap with traditional stock markets, signalling increased integration into the global financial system and potential for sustained growth.
The cryptocurrency market has reached a historic milestone in 2024, with global exchange trading volume doubling to $13.3 trillion year-to-date. This remarkable achievement marks the second-highest annual volume recorded in crypto history, underpinned by regulatory advancements, technological innovation, and broader adoption by institutional and retail investors.
The growth in trading activity can be attributed to several significant developments in 2024. Regulatory clarity in major regions such as the United States and Europe has provided a more secure framework for both traders and institutions, encouraging broader participation. The approval of Bitcoin spot exchange-traded funds (ETFs) has further boosted confidence in digital currencies, attracting a wave of new investments.
Moreover, advancements in blockchain technology and the expanding influence of decentralised finance (DeFi) have cemented cryptocurrencies’ position within the global financial ecosystem. These factors have combined to make 2024 one of the most impactful years in the history of crypto trading.
Trading volumes reach record levels
Data from CryptoPresales.com reveals that global trading volumes on cryptocurrency exchanges hit $13.3 trillion by the end of November 2024, nearly doubling the $6.7 trillion recorded during the same period in 2023. November alone saw trading volumes climb to $2.7 trillion, the highest monthly figure since the bull market of 2021.
This surge in trading activity has brought the monthly average to $1.33 trillion in 2024, a dramatic rise from the $650 billion recorded in 2023. The performance is a testament to the increasing prominence of cryptocurrency markets, which now rival traditional stock exchanges in scale.
Closing the gap with stock markets
The growth of cryptocurrency trading has significantly narrowed the gap with traditional financial markets. In 2024, the average monthly trading volume on crypto exchanges was only 11% below that of major U.S. stock markets like the NYSE and NASDAQ, which averaged $1.5 trillion.
However, the gap between crypto and forex markets remains substantial. Global forex markets maintain daily trading volumes of $7.5 trillion, equivalent to $200 trillion per month, far exceeding the scale of digital assets.
A year shaped by market context
The rise in digital asset volumes followed the re-election of Donald Trump as U.S. President, which created heightened market expectations. The momentum in trading activity has made 2024 the second-best year for cryptocurrencies, trailing only 2021, when $26.2 trillion was recorded during a historic bull market.
The cumulative trading volume for the first eleven months of 2024 reached $13.3 trillion, far surpassing the $6.7 trillion recorded during the same period in 2023. By comparison, the total trading volume in 2023 was $7.8 trillion, setting the stage for 2024 to become a landmark year, second only to the record-breaking $26.2 trillion traded in 2021.
Outlook for the crypto market
While critics suggest the current boom may be tied to Bitcoin’s exceptional performance, the broader cryptocurrency market has demonstrated resilience and growing maturity. The narrowing gap between crypto and traditional stock market trading volumes reflects the increasing integration of digital assets into the global financial ecosystem.
As 2024 draws to a close, the milestones achieved this year underscore the transformative potential of cryptocurrencies and their role in shaping the future of finance. With continued regulatory support and technological innovation, the crypto market is poised for further expansion in the years ahead.
Himani Verma is a seasoned content writer and SEO expert, with experience in digital media. She has held various senior writing positions at enterprises like CloudTDMS (Synthetic Data Factory), Barrownz Group, and ATZA. Himani has also been Editorial Writer at Hindustan Time, a leading Indian English language news platform. She excels in content creation, proofreading, and editing, ensuring that every piece is polished and impactful. Her expertise in crafting SEO-friendly content for multiple verticals of businesses, including technology, healthcare, finance, sports, innovation, and more.
