Data analytics firm Kaiko said that although more than 15 exchanges offer crypto trading services in euros, only a few platforms attract significant trading volumes.
Cryptocurrency exchanges Bitvavo, Kraken, Coinbase, Bitstamp and Binance jointly dominate euro-denominated trading volume, accounting for more than 98% of total trading volume.
According to the latest research conducted by Kaiko in conjunction with Bitvavo, the cumulative trading volume of cryptocurrency exchange Kraken will reach 25 billion euros in 2023, followed by Binance, which once held a significant market share. According to the report, the cumulative euro trading volume of cryptocurrency exchange Bitvavo in 2023 exceeded 34 billion euros, accounting for more than 50% in December 2023.
In 2023, European traders showed a strong preference for BTC, and BTC trading volume increased significantly in the fourth quarter of 2023. Analysts pointed out that BTC trading volume in Europe exceeded 37 billion euros, surpassing ETH trading volume (15 billion euros) and XRP trading volume (9.5 billion euros). Kaiko said the top 10 most traded assets in Europe are closely tied to global and U.S. trading activity trends. (Cryptonews)