Global Crypto Exchange Market Valued at $24.75B in 2024, Set to Triple by 2029: Report

In 2024, the worldwide cryptocurrency exchange market reached $24.75 billion, having grown steadily since 2019. The worldwide cryptocurrency exchange business is still dominated by a small number of powerful companies.

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Nausheen Thusoo
Nausheen Thusoo
Nausheen has three years of devoted experience covering business and finance. She is aware of the constantly changing financial landscape, especially in the rapidly growing cryptocurrency space. Her ability to simplify difficult financial ideas into understandable stories and her analytical thinking make her articles valuable for both novice and experienced readers.She has written about a wide range of subjects, including investing methods, market trends, and regulatory changes pertaining to the cryptocurrency industry. She has worked with Reuter, Coingape and Bankless times. Nausheen blends a talent for narrative with meticulous research skills. She is also skilled at establishing connections with business leaders so they can offer unique perspectives and interviews that enhance their reporting

The global crypto market space is all set to rise significantly in the coming five years, according to research published by ResearchAndMarkets.com.

In 2024, the global cryptocurrency exchange market was estimated to be worth $24.75 billion, indicating a notable expansion with a compound annual growth rate (CAGR) of 19.29% since 2019.

The market is predicted to more than triple to $71.94 billion by 2029, rising at a compound annual growth rate (CAGR) of 23.78%, demonstrating that this high momentum is likely to continue.

Crypto Exchange Market Projected to Hit $213B by 2034 with 24.26% CAGR Growth

It is anticipated that the market would continue to grow at a 24.26% compound annual growth rate (CAGR) from 2029 onward, reaching an estimated $213.15 billion by 2034.

These numbers demonstrate the expanding global use of digital assets, the growth in trading volumes, and the increasing involvement of investors, all of which are contributing to the long-term expansion of the crypto exchange industry and establishing it as a crucial element of the changing financial scene.

Also Read: Jack Dorsey’s Block Targets $6B Crypto Mining Market with New Open-Source Proto Chip

Top 10 Crypto Exchanges Controlled Over 35% of Global Market in 2023

The global crypto exchange market remains highly concentrated, with a few major players dominating the space. In 2023, the top ten crypto exchange platforms accounted for 35.11% of the total market.

Binance Holdings Ltd. led the pack with a market share of 12.58%, underscoring its position as the industry’s dominant player. Coinbase Global Inc. followed with 7.76%, while Kraken Digital Asset Exchange held 4.54%.

Other notable competitors included Block Inc. (4.27%), Bybit Fintech Limited (2.81%), and Crypto.com operator Foris DAX Asia Pte. Ltd. (0.79%). Robinhood Markets Inc., eToro Group Ltd., Fireblocks Inc., and KuCoin Co. Limited rounded out the top ten, each holding less than 1% of the market.

The market is segmented into two primary models: centralized exchanges (CEXs) and decentralized exchanges (DEXs).

Centralized exchanges currently dominate the industry, making up 90.76% of the total market in 2024, or approximately $22.46 billion. These platforms offer high liquidity, user-friendly interfaces, and robust infrastructure, attracting a majority of retail and institutional users.

However, the decentralized exchange segment is poised for rapid growth. From 2024 to 2029, DEXs are projected to be the fastest-growing segment in the market, with a compound annual growth rate (CAGR) of 26.37%.

This shift reflects growing user interest in privacy, self-custody, and permissionless trading, which are core features of DEX platforms.

As regulatory scrutiny increases and users seek greater control over their assets, the DEX model is expected to gain further traction and challenge centralized dominance.

Also Read: Coinbase Co-Founder Calls On Lawmakers to Seize Legislative Opportunity for Stablecoin and Crypto Market Reforms

North America Dominated Crypto Exchange Market in 2024 With $9.95B Share

In 2024, North America led the global crypto exchange market, accounting for 40.20% or $9.95 billion of the total market value.

It was followed by Western Europe and Asia-Pacific, while other regions trailed behind. Looking ahead, Asia-Pacific and Western Europe are projected to be the fastest-growing regions, with compound annual growth rates (CAGRs) of 25.10% and 24.01%, respectively.

These gains reflect increasing adoption, regulatory clarity, and expanding digital infrastructure. North America and South America will also see solid growth, with expected CAGRs of 23.71% and 22.91%.

This regional expansion highlights the global nature of crypto adoption and the evolving dynamics of the exchange market.

Also Read: Tether Targets U.S. Market Entry with Upcoming Stablecoin Launch Slated for Rollout Later This Year

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