Bitvavo again largest EUR-spot exchange worldwide

Once again we have solidified our position as the largest EUR spot exchange globally, according to the newly published 2024 report by Kaiko, the renowned provider of market data and analytics in the crypto sector. The report, which covers the first 11 months of this year, shows that we account for half of the trading volume in euros worldwide.  

Bitvavo accounts for half the market volume

We achieved a market share of nearly 50% in EUR-denominated trading volumes, confirming our role as the leading player in the European crypto market. We outpaced global exchanges such as Kraken, Coinbase, and Binance, cementing our dominance in a market that saw significant growth in demand for euro-crypto trading in 2024.

Most euro pairs and deepest liquid EUR spot markets.

The report shows that we have the largest range of digital assets (350+) in EUR-Spot, with the deepest liquid markets of all exchanges. In addition, we listed more than 100 new digital assets, more than any other exchange.

Mark Nuvelstijn CEO of Bitvavo is proud of the leading position the platform has in the European crypto market: “We see this performance as a validation of our strategy. Our commitment to a powerful platform, a broad selection of digital assets, and competitive trading fees has helped us remain the preferred choice for both retail and institutional users in euro-crypto markets worldwide.”

MiCA improves market opportunities

According to Nuvelstijn, the new European regulations provide an extra tailwind. “We will receive our MiCA license in 2025 (expected), this enables us to roll out our strong product-market fit throughout Europe. The arrival of MiCA will further strengthen consumer confidence in Europe, so that the market will continue to grow. As market leader, we will reap the benefits of this.”

Growth in euro crypto trading

According to Kaiko, euro trading volumes surged to an impressive €50 billion in November, more than doubling compared to October. BTC-EUR, the top trading pair, saw its share of global BTC-fiat volume climb from 3.6% to nearly 10%. This trend reflects improved regulatory clarity in the EU and Bitcoin’s growing institutional adoption worldwide, which continues to attract retail- and institutional investors to Europe.

Leaving competition behind

In addition to the robust market growth, the report also underscores our position compared to other major players like Kraken and Binance. We continued to grow steadily and maintained our position as market leader with a market share of almost 50%. 

About Kaiko

Since 2014, Kaiko has been a leading provider of market data and analytics in the crypto industry. Their insights support the development of innovative indices and benchmarks, and their reports are recognized as essential resources for market participants worldwide.