Only five crypto exchange account for 98% of total euro trade volume, data shows
Despite the availability of over 15 platforms facilitating euro-denominated trading with crypto , only a few attract substantial trading volume , Kaiko says. Cryptocurrency exchanges Bitvavo, Kraken, Coinbase, Bitstamp, and Binance collectively dominate the landscape of euro-denominated trading volume, accounting for over 98% of the total trades. According to a recent research from Kaiko co-made with Bitvavo, crypto exchange Kraken saw €25 billion in cumulative volume in 2023, followed by Binance, which once held a significant market share. Crypto exchange Bitvavo, according to the report, witnessed cumulative euro volume s exceeding €34 billion, accounting for over 50% in December 2023. Monthly euro-denominated trade volume | Source: Kaiko You might also like: Asset managers cut fees for European Bitcoin ETFs as competition grows Euro traders in 2023 demonstrated a strong preference for Bitcoin (BTC), which experienced substantial gains in Q4 2023. According to a...