Last year, trading volumes on the crypto market grew to $36 trillion. Total market capitalization increased by 108.1% from $829 billion to $1.72 trillion. This is evidenced by data from CoinGecko.
►Subscribe to the Ministry of Finance page on Facebook: main financial news
After the collapse of the FTX crypto exchange in November 2022 Trader sentiment has improved significantly. They were not affected by any harassment from regulators or persecution of the largest exchange Binance.
The company’s report notes that such a stir in the market was caused by hopes for the approval of a Bitcoin ETF, which finally happened in January 2024 .
The release writes that the fourth quarter of 2023 was particularly noteworthy: during this period, trading volume amounted to $10.3 trillion. This figure is up more than 53% from $6.7 trillion. in the third quarter. Average daily trading volume in the fourth quarter of 2023 reached $75.1 billion, an increase of 92% from the previous quarter.
However, total daily trading volume for the year was almost $59 billion, still lagging behind the figures. 2022 by more than 31%.
Dynamics of the total capitalization of the crypto market for 2023/Source: CoinGecko
