Cryptocurrency trading volumes on major centralized exchanges (CEXs) reached an all-time high, exceeding $11.3 trillion in December 2024, indicating growing market activity.
Key Metrics from December’s Record Trading Volume
Total trading volume on CEXs in December amounted to $11.3 trillion, a 7.58% increase from November. Spot trading volume reached $3.73 trillion (+8.10%), and derivatives volume was $7.58 trillion (+7.33%).
Binance’s Market Share Decline
Despite leading in both spot and derivatives trading, Binance's market share declined. In spot trading, the volume was $946 billion, and their market share dropped to 25.4%. In derivatives, its share was 39.9% but also saw a decline.
Factors Contributing to the Volume Surge
The increase in trading volumes was driven by renewed interest from institutional investors and retail traders. Growth was also fueled by the launch of spot Bitcoin ETFs, which attracted significant capital to the market.
The record-breaking trading volumes on centralized crypto exchanges highlight the growing maturity and adoption of the crypto market. Although Binance leads, its shrinking market share underscores the increasing competition in the sector.
