Monthly Crypto Trading on CEXs Hit All-time High
December marked a historic high for spot and derivatives trading volumes on centralized crypto exchanges, according to data from CCData.
“In December, the combined spot and derivatives trading volume on centralized exchanges rose by 7.58% to 11.3 [trillion], recording a new all-time high for digital asset trading activity on centralized exchanges,” CCData stated in a Jan. 15 markets report reviewed by Cointelegraph.
Binance led the major exchanges with the highest spot trading volume, reaching $946 billion, an increase of 0.13%.
Bybit followed with $247 billion, up 18.8%, and Coinbase ranked third with $191 billion, up 9.62%.
Crypto derivatives trading volumes also hit a record high in December, increasing by 7.33% to $7.58 trillion.
The report noted, “This is the third consecutive increase in monthly derivatives volume as traders look to capture volatility on both directions with liquidations spiking during the month.”
Bitcoin achieved significant milestones in December, reaching $100,000 for the first time on Dec. 5 and setting a new all-time high of $108,249 on Dec. 17.
However, the market faced turbulence later in the month. On Dec. 20, over $1 billion was liquidated within 24 hours as Bitcoin dropped nearly 3.5% from the $100,000 level.
This decline followed comments from Federal Reserve Chair Jerome Powell, who stated, “The economy is not sending any signals that we need to be in a hurry to lower rates.”
Swyftx lead analyst Pav Hundal remarked that optimistic market participants were “completely unprepared for bad news.”
The first interest rate decision of 2025 from the US Federal Reserve is scheduled for Jan. 29.
Meanwhile, the crypto market has seen improved expectations for rate cuts after the Jan. 15 US Consumer Price Index report revealed lower-than-expected core inflation for December.
This news triggered a rally in Bitcoin’s spot price, which climbed from approximately $96,000 to $100,522.
Sources:
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