Bitget’s Report Unveils 1.5 Million Daily Active Crypto Traders in Western Europe

Introducing Extreme Investor Network’s exclusive insights into the rapidly evolving cryptocurrency landscape in Western Europe.

A recent study conducted by Bitget Research has revealed a surge in daily active crypto traders in the region, with Germany and France taking the lead. This trend indicates a growing interest in decentralized finance (DeFi) and a preference for centralized exchanges among Western European investors.

Our in-depth analysis delves into the structure and current dynamics of the cryptocurrency markets in Western Europe. With an estimated 1.2 million to 1.5 million daily active traders, the region is witnessing a significant uptick in cryptocurrency adoption.

Germany and France have emerged as frontrunners in terms of crypto trading activity, while Austria has experienced a remarkable growth spurt, signaling a progressive approach to cryptocurrency investments in the country.

Related:  Predictions for Natural Gas, WTI and Brent Oil Prices - Oil Prices Rise from Daily Lows amid Middle East Tensions as Traders Remain Watchful

Western European crypto traders are characterized by their well-educated and risk-conscious nature, utilizing a trading strategy that combines contracts and spot trading while also investing in mainstream assets. Additionally, these traders actively engage in decentralized projects, NFTs, and Web3 platforms, with a notable interest in chain ecosystems like Solana.

Our report unveils that DeFi usage is a major driver of cryptocurrency activity in Western Europe, while peer-to-peer trading volumes remain relatively low. This trend is attributed to the prevalent practice of purchasing digital assets using fiat deposits or linked cards in the region.

Unlike other regions, Western Europe benefits from a clearer level of compliance in the cryptocurrency industry, with countries adhering to the legislative framework established by the European Union for regulating crypto assets.

Related:  Google's Role in Election Interference According to Armstrong Economics

Looking ahead to 2024, Bitget Research predicts several key trends for the Western European market, including the continued dominance of Germany and France as cryptocurrency hubs, a growing interest in on-chain solutions like NFTs and DEXes, and the rise of emerging centralized exchanges offering superior customer service and platform features. Moreover, crypto wallets that offer integration across multiple blockchain ecosystems are poised to benefit from increased engagement with projects in the Solana ecosystem.

As Western Europe cements its position as a significant player in the cryptocurrency industry, its responsible and regulated approach, coupled with a large number of daily active traders, underscores its importance in shaping the future of cryptocurrencies.

Related:  Market Talk - July 27, 2022

Stay ahead of the curve with Extreme Investor Network as we bring you exclusive insights and analysis on the latest trends and developments in the world of crypto, blockchain, and decentralized finance. Join us as we navigate the ever-evolving landscape of digital assets and discover unique investment opportunities in Western Europe and beyond.

Source link

Leave a Comment