The 2024 crypto boom is changing the digital currency landscape. Investors face opportunities and challenges as market volatility, security risks and regulatory uncertainty dominate the headlines. Knowing the key trends is important to make informed investment decisions.
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Navigating market volatility, security risks and regulatory changes in 2024
Global crypto trading volume skyrockets
Global cryptocurrency trading volume is expected to exceed $108 trillion by the end of 2024, representing a 90% increase from 2022. Europe and Asia are the driving forces of this boom, with Europe accounting for 37.32% of the global cryptocurrency transaction value.
The United States leads the ranking of individual countries, with its trade volume expected to exceed $2 trillion in 2024. Close behind are Turkey and India, whose trade volumes are each expected to exceed $1 trillion this year.
The regulatory landscape continues to evolve
New crypto rules are coming. The EU introduced some of them in June 2023 and will add more in December 2024.
In Turkey, 76 companies, including big names like Coinbase and KuCoin, plan to enter the crypto business in the 2024 crypto boom. This shows that Turkey is becoming a major crypto player and is now ranked fourth in global trading.
Read also: Ethereum and Solana: Thomas Kralow’s investment tips for 2024
Change in market dynamics
The crypto market is changing, and the people interested in investing are changing too. In India, many more women are now buying cryptocurrencies. From June 2023 to January 2024, the number of female investors increased by 300%. One in five crypto buyers is now a woman, mostly between the ages of 18 and 34.
Popular cryptocurrencies have seen changes in their market position. In 2023, Dogecoin became the most popular cryptocurrency in India, accounting for 11% of the total invested value. It was followed by Bitcoin at 8.5% and Ethereum at 6.4%.
Despite technological advances, security concerns remain
Security risks remain a major concern in the growing crypto market. The market continues to be plagued by serious hacking attacks and scams, leading to an increased focus on technical solutions for greater security. Blockchain networks are being updated to process more transactions faster, which is important as more people use cryptocurrencies.
