TechFlow reports that on March 28, the Bitget Research Institute released an analysis report on the Western European crypto market, comprehensively examining the region's current landscape from dimensions including the overall market situation, characteristics of cryptocurrency users, competitive dynamics, and advantages of various platforms. Western Europe is a highly significant market for the cryptocurrency industry, with its daily active users (DAU) participating in crypto trading continuously rising from 700,000 in 2023 to approximately 1.2 million–1.5 million in 2024. Among the eight Western European countries, Germany and France exhibit the most active crypto engagement.
From a regulatory standpoint, these eight Western European nations align broadly with EU-wide directions, generally maintaining an open stance toward cryptocurrency regulation and providing a stable, transparent regulatory environment. In terms of on-chain preferences, users in Western Europe show strong interest in decentralized projects and are familiar with DEX and other on-chain tools, showing particular affinity for popular public blockchains and the Solana ecosystem. Regarding trading behavior, spot trading is widely favored across the region, while users in Germany, the Netherlands, and Switzerland demonstrate a stronger preference for derivatives trading. Overall, acceptance of emerging and trending assets such as NFTs and meme coins remains high. On centralized exchanges (CEXs), traffic in Western Europe has shown a fluctuating upward trend over the past year, with user demand for CEXs exceeding that for decentralized exchanges (DEXs). As for DEX usage, Western European users primarily concentrate on leading cross-chain platforms such as Uniswap and PancakeSwap. The most commonly used wallets include Trust Wallet, MetaMask, Coinbase Wallet, and Bitget Wallet.
