At the beginning of 2024, major centralized cryptocurrency exchanges, including Binance and Coinbase, noted a significant increase in spot trading volumes. According to experts, this trend is associated with expectations regarding spot Bitcoin ETFs. In January, trading volumes on these platforms increased by 10.4%, reaching a 12-month high of $800 billion. Binance accounts for 52% of this volume, successfully overcoming regulatory issues in various jurisdictions, including the United States.

Coinbase recorded a 20% growth in trading volume, while Upbit, Crypto.com, and Huobi showed even more impressive results with growth rates of 44.6%, 28.4%, and 23.8% respectively. Bybit, Kraken, and OKX also reported increased trading volumes.

This surge in cryptocurrency market activity is attributed to the approval of ETFs by the U.S. Securities and Exchange Commission, as well as improving overall macroeconomic conditions. It is expected that the U.S. Federal Reserve will lower interest rates in the first half of 2024, and the European Central Bank may also follow suit after a decrease in inflation in Germany.