Average Monthly Crypto Trading Volume Soares to Over $1.5 Trillion in 2024
December 29, 4:44 am
While some skeptics might say that the 2024 crypto boom is largely fueled by Bitcoin's remarkable performance, meaning the market could easily take a downturn if Bitcoin falls, the reality is that crypto trades skyrocketed reaching one of the highest figures on record.
According to data presented by AltIndex.com, the average monthly trading volume on crypto exchanges hit over $1.5 trillion in 2024, or 135% more than last year.
The Second-Highest Crypto Trading Volume So Far
2024 has proven to be a groundbreaking year for the crypto market, with key developments propelling digital currencies to new heights. Regulatory clarity in major markets, the approval of Bitcoin spot ETFs, advancements in blockchain technology, and the growth of decentralized finance (DeFi) have fueled both institutional and retail adoption, turning 2024 into one of the best years for crypto trading.
Last month, the crypto market reached a three-year high in monthly trading volume, driven by regulatory clarity and heightened expectations following Donald Trump's election win. According to The Block, the total trading volume on crypto exchanges hit $2.7 trillion in November, trailing only behind the trading volumes seen in March, April, and May of 2021. However, December performed even better, with the monthly trading volume rising to over $2.7 trillion.
The surging trading volumes amid the crypto bull run have helped the monthly average to soar over $1.5 trillion in 2024, the second-highest figure in the market's history. Only the 2021 bull run brought higher trading values, with the monthly average reaching $2.18 trillion that year. Statistics also show this year's average represents a huge increase from 2023, with a 135% increase compared to last year's $650 billion. Even 2022, with its $1 trillion monthly average, falls short of 2024's performance.
Crypto Exchanges Close the Year with Over $18.5 Trillion in Trading Volume
With crypto exchanges handling over $2.7 trillion in trades over the past two months, the full-year crypto trading volume skyrocketed to $18.4 trillion, the second-highest yearly total on record.
Although this is 30% lower than the all-time high of $26.2 trillion in 2021, it's just 9% less than the combined trading volumes over the past two years and twice more than the reported value between 2018 and 2020.
Statistics also show that Binance generated over 40% of the total crypto trading volume this year. The world's largest cryptocurrency exchange saw $7.7 trillion worth of crypto trade, translating into an average of $641 billion per month. Far below, Coinbase (COIN) follows with a monthly average trading volume of $99 billion and a full-year total of $1.2 trillion.
Read more about Top Crypto Performers Today.
Get More Insights
Sign up and get access to a personalized dashboard, deeper insights, AI stock picks, stock alerts, weekly newsletter and much more.
