 | Western Europe has become one of the fastest-growing cryptocurrency acceptance markets in the world. The daily number of trading participants in the region ranges from 1.2 to 1.5 million. Lately, the research division of the cryptocurrency exchange Bitget has published a report analyzing the structure and current landscape of the Western European cryptocurrency markets. The report notes that Germany and France have become the leaders in terms of cryptocurrency trading in Western Europe. Austria, however, has shown extraordinary growth, recording a 70% increase in the number of cryptocurrency traders between December 2022 and December 2023. After analyzing local market trends and trading instrument preferences, analysts found that users in Germany, Switzerland, and the Netherlands prefer futures trading, while other countries lean toward spot trading. When it comes to cryptocurrency trading, most Western European users prefer centralized exchanges, with CEX traffic exceeding DEX by a factor of 10. [link] [comments] |
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