- North America processes 22.5% of global crypto activity, with $1.3 trillion in on-chain value expected from July 2023 to June 2024.
- Institutional investors dominate North America’s crypto market, with 70% of transactions over $1 million, driving major financial participation.
- The U.S. leads in crypto adoption, fueled by Bitcoin ETPs and a supportive financial ecosystem, solidifying its position as a global crypto leader.
North America will remain the leading region of the global cryptocurrency market, with $1.3 trillion on-chain value expected to be processed within the period from July 2023 to June 2024. According to a recent report, this makes up to about 22.5% of global crypto activity.
Source: Image by Chainalysis
The region is largely financed by institutional investors where 70% of North American digital asset transactions are more than $1 million in transfers. This shows how more and more big financial players engage in driving the cryptocurrency market in the region.
In particular, the United States has become the main player in the digital assets market in North America. After the rather bearish performance in the last quarter of 2022, this sector had a very good run in 2024.
Source: Image by Chainalysis
An important indicator of this came in March when the price of Bitcoin hit an all-time high of more than $73,000 as investors brought their money back into the market. The launch of Bitcoin exchange-traded products (ETPs) which includes ETFs in the US markets helped cement the connection between traditional finance and digital assets.
Institutional Influence in Crypto
This increasing overlap between conventional financial institutions and the digital assets market shows that the major players in the financial industry are crucial. Companies such as Goldman Sachs, Fidelity and BlackRock have been more and more active in the industry and often hold extreme views on cryptocurrency.
The incorporation of these traditional institutions is a sign of the industry’s advancement to a new phase of adoption of digital aseets. The main reason behind this growth rate is that Bitcoin ETPs have been launched in the U.S., which brought investors from both retail and institutional level.
Bitcoin ETPs Boost Growth
These financial products are therefore more secure and convenient to use when investing in bitcoin than the private wallet management. These ETPs came into the market with a positive market sentiment which saw the market becoming bullish and leading to an increase in the price of Bitcoin.
While the North American market is expanding, the U.S. continues to lead the world in crypto due to its wealth, innovative environment, and sound investment climate. Nevertheless, the high volatility of the market, with regard to both bull and bear trends, reflects the role of institutional actions. As the trend continues with the boost from institutions and governments, this shift will continually solidify that North America is here to stay in the Cryptocurrency space.
