Researchers from CryptoRank have released a report on cryptocurrencies, highlighting that the trading volume on global centralized exchanges (CEX) increased by 83% in the fourth quarter of 2023, reaching $2.18 trillion. They also noted that this figure could continue to grow, considering the remaining 5.5 days until the end of the month.

Analysts emphasized that despite the growth compared to the third quarter of 2023, the trading volume in this reporting period still remains nearly four times lower than the historical high set in the second quarter of 2021 when record-breaking $8.43 trillion was achieved.

It is worth noting that the third quarter of 2023 became the least successful since the beginning of 2021. During the first three months, transactions were conducted for a total amount of $5.19 trillion. This was a significant increase considering that in the last quarter of December 2020, the trading volume was only $1.3 trillion.

Spot trading is the primary method of trading digital assets, where cryptocurrencies are bought and sold on the exchange at current market prices. Usually, transactions are executed immediately. Investors have the opportunity to acquire virtual coins and tokens directly from the exchange or through other market participants.

Binance stands out with a variety of trading pairs and a reliable security system, attracting many traders and investors from different parts of the world. This year, the platform faced pressure from U.S. financial regulators, which forced it to pay significant fines, and its founder Changpeng Zhao stepped down from his leadership position.