In December, the value of cryptocurrency transactions on centralized platforms reached an astounding $11.3 trillion. Remarkably, these spot transactions surpassed their previous high from May 2021, as market volatility significantly increased.
In simple terms, the trading of cryptocurrencies on centralized platforms saw a significant increase in December. The total volume of both spot and derivative transactions combined reached an unprecedented high of $11.3 trillion, according to data compiled by CCData. This represents a 7.58% rise compared to previous records.
The value of spot trading surged by 8.10%, reaching an all-time high of $3.73 trillion in comparison to May 2021. Meanwhile, derivatives also experienced growth, increasing by 7.33% to reach $7.58 trillion, marking their third consecutive monthly increase. However, the focus was primarily on spot trading as it accounted for a larger proportion of total trading volume, while derivatives saw their smallest market share since June 2022.
The growth in the market share for spot trades suggests that these transactions have a stronger impact on the value of digital currencies, as traders become more conservative following rumors about potential fewer interest rate reductions in 2025.
CCData
In the year 2024, centralized exchanges recorded a staggering trading volume of approximately $76 trillion, surpassing the previous record of $65.1 trillion set in 2021. Interestingly, derivatives trading accounted for about 69.2% of this total volume, highlighting their growing popularity according to CCData’s analysis.
In a recent development, several crypto trading platforms have seen significant changes in their market shares. Notably, Bitget, Coinbase, and Crypto.com have expanded their influence to command 10.5%, 5.43%, and 4.71% of the market share respectively. On the flip side, Binance, OKX, and HTX have experienced a slight setback, although Binance continues to lead as the dominant platform with a market share of 35.1%. This is according to the latest data available.
Bybit and OKX follow with 12.8% and 12.4%, while Bitget and Coinbase complete the top five.
Read More
- We’re Terrible At Organizing Things.’ Tom Holland Reveals The Sweet Holiday Scheme He And Zendaya Are Going To Try Next Year
- Path of Exile 2: How To Find & Unlock the Realmgate
- Yarrow Slaps’ Distorted Celebrity Portraits Take Center Stage in New Video Game-Inspired Show
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Girls Frontline 2 Exilium tier list
- NewsNation Taps Leland Vittert to Replace Dan Abrams
- XLARGE Celebrates Lil Wayne With New Collection
- Million-Dollar Crypto Scandal: Abra Pays Up in SEC Settlement
- Deva: Shahid Kapoor and Pooja Hegde’s lip-lock scene gets trimmed by CBFC? Film’s runtime and rating revealed
- Joel McHale Joined Scream 7 And His Role Destroys A Popular Fan Theory
2025-01-16 17:36