Crypto: Daily traders number more than 1 million in Western Europe

The latest report from Bitget Research reveals growing momentum in crypto trading in Western Europe. The staggering numbers on crypto trader activities are more than impressive, not to mention the emerging crypto trends.

Europe is establishing itself as a key player in the crypto market

The number of crypto traders in Western Europe continues to increase

This year in particular, crypto experts are seeing growing enthusiasm for crypto assets (and not just in Europe).

According to Bitget Research report, Western Europe now has between 1.2 and 1.5 million daily active crypto traders. The study highlights the diversity of cryptoasset trading strategies, with a common combination:

  • contracts,
  • spot trading,
  • investments in traditional assets.

The figures show a remarkable growth in the number of crypto traders in Austria: at a rate of 70% between December 2022 and December 2023. Germany and France, for their part, remain the leaders in terms of crypto trading activity. currencies. They display growth rates of 69% as well as significant trading volumes.

That's not all ! L'analysis also reveals strong user participation:

  • to decentralized projects,
  • to NFT and Web3 platforms,
  • to popular channel ecosystems like Solana.

What is the crypto market outlook for 2024?

According to Bitget Research forecasts, Germany and France will remain nerve centers of crypto trading activity in Western Europe. The study also anticipates continued growth in user interest in on-chain solutions, particularly in the areas of NFTs, DEXs and blockchain gaming.

The figures also suggest that projects in the Solana crypto ecosystem will continue to grow in popularity, with an expected increase in user engagement.

DeFi and P2P trading: Are we talking about it?

Certainly, DeFi constitutes the majority of crypto activity in Western Europe. However, P2P trading volumes remain relatively low.

The report highlights the growing importance of regulatory compliance in the crypto sector, with European countries such as Germany, Switzerland and France adhering to the legislative frameworks established by the European Union (MiCA laws).

In any case, BitGet's report confirms Europe's leading position in crypto asset trading.

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