LATEST: Crypto Market Records Remarkable Growth with $36.6 Trillion Trading Volume In 2023

In 2023, crypto trading volume surged to a staggering $36.6 trillion, marking a significant recovery post-FTX’s 2022 collapse and showcasing the dynamic nature of digital assets. The fourth quarter stood out with $10.3 trillion in trading volume, reflecting a remarkable 53% quarterly growth, attributed to bullish sentiment driven by the anticipated approval of US Bitcoin spot ETFs. Despite the average daily trading volume in Q4 reaching $75.1 billion, the annual figure was nearly $59 billion, trailing 2022 by over 31%.

Heightened optimism in Q4, particularly regarding potential US Bitcoin ETF approval, resulted in a 55% increase in the total crypto market cap, reaching $1.6 trillion. The year saw a remarkable 108% growth in total market cap, driven by Bitcoin’s outstanding performance—a 2.6-fold increase from $27,000 to $42,000 in Q4 alone.


84.4K Reads