Spot trading volume on leading centralized platforms rose by 27% over the month

The most notable jump in the indicator was demonstrated by the Gate exchange (65%)

10.01.2024 - 14:55

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What’s new? At the end of December, spot trading volume on the leading centralized exchanges (CEXs) rose by 27,4% for the month, analyst Colin Wu said in a new report. The top three performers in terms of index growth were Gate (65%), Crypto com (50%), and Bybit (44%). The worst performers were Bitmart, Bitget, and Upbit, which saw trading volume decline by 24%, 12%, and 1% respectively.

Colin Wu’s report

What else is known? In terms of derivatives trading volume, the average index grew by 22,3% year-on-year in November. The leaders were Crypto com (46%), Bitget (42%), and Binance (26%). The worst performance was recorded at MEXC and HTX (formerly Huobi) with a decrease of 13% and 5% respectively, as well as Kucoin with an increase of only 14%.

Visits to crypto exchanges’ websites increased by 21% on average. MEXC (45%), Bybit (38%), and Gate (34%) saw the largest increase in traffic. HTX, which was hacked for $87 million in November, saw its activity decrease the most compared to its competitors — by 80%. Also, among the three worst were BitMart (-17%) and Bitget (+8%).

Among Russians, Bitget (19% of traffic), MEXC (12%), HTX (11%), Bitget (10%), Bitfinex (8%), and Deribit (8%) were the most popular in December.

Earlier, analysts at investment company CoinShares reported that at the end of the year, the inflow of funds into cryptocurrency derivatives amounted to $2,25 billion.

And in the first week of 2024, $151 million was invested in investment products based on cryptocurrencies.

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