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Bitvavo has as soon as once more consolidated its place as the biggest euro spot trade on the planet, based on the lately launched 2024 report by Kaiko, the famend supplier of market information and analytics within the crypto business. The report, which covers the primary 11 months of this yr, reveals that the Amsterdam-based crypto trade accounts for half of the world's euro buying and selling quantity.
Bitvavo represents half of the market quantity
Bitvavo has achieved a market share of just about 50% in EUR-denominated buying and selling volumes, confirming its function as a number one participant within the European crypto market. Bitvavo has outpaced world exchanges reminiscent of Kraken, Coinbase and Binance, cementing its dominance in a market that has seen vital development in demand for buying and selling cryptocurrencies in euros in 2024.
Most euro pairs and most liquid euro spot markets
Bitvavo has – because the report reveals – the widest vary of digital belongings (over 350) in EUR-Spot, with the deepest liquid markets of any trade. Moreover, Bitvavo has listed over 100 new digital belongings, greater than another trade.
Mark Nuvelstijn, CEO of Bitvavo, is happy with the platform's main place within the European crypto market: “We see this efficiency as a validation of our technique. Our dedication to a robust platform, vast collection of digital belongings, and aggressive buying and selling charges has helped us stay the popular alternative of retail and institutional customers within the Euro-crypto markets in the entire world.
MiCA enhances market alternatives
Based on Nuvelstijn, the brand new European laws present extra tailwinds. “We’ll obtain our MiCA license in 2025 (anticipated), which can permit us to deploy our sturdy product-market match throughout Europe. The arrival of MiCA will additional strengthen shopper confidence in Europe, so the market will proceed to develop. As a market chief, we are going to reap the rewards. »
Progress of cryptocurrency buying and selling in euros
Based on Kaiko, euro buying and selling volumes reached a powerful €50 billion in November, greater than double in comparison with October. BTC-EUR, the main buying and selling pair, noticed its share of world BTC-fiat quantity enhance from 3.6% to nearly 10%. This development displays higher regulatory readability within the EU and the rising institutional adoption of Bitcoin worldwide, which continues to draw retail and institutional traders in Europe.
Depart the competitors behind
Moreover the sturdy market development, the report additionally highlights Bitvavo's place in comparison with different main gamers like Kraken and Binance. Bitvavo continued its regular development and maintained its place as market chief with a market share of just about 50%.
About Bitvavo
Based in 2018 in Amsterdam, Bitvavo is Europe's main cryptocurrency buying and selling platform and the world's largest EUR spot trade. Greater than 1.5 million European retail customers love Bitvavo for its complete and user-friendly platform, the place they’ll purchase, promote and retailer greater than 350 digital belongings at aggressive charges. Institutional merchants recognize Bitvavo's quick and dependable platform for the deep liquidity of over 350 digital belongings. Bitvavo is registered with the Dutch Central Financial institution (DNB). For extra info, go to www.bitvavo.com.
About Kaiko
Since 2014, Kaiko has been a number one supplier of market information and evaluation within the crypto business. Their concepts assist the event of progressive indices and benchmarks, and their reviews are acknowledged as important sources for market individuals all over the world.
For extra info:
Karel Zwan
+31 6 22 39 45 00
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