Ethena (ena) 
2024 Sees Record-Breaking Crypto Trading Volumes on Centralized Exchanges
December 2024 witnessed a significant surge in crypto trading on centralized exchanges, with combined spot and derivatives volumes reaching a record-breaking $11.3 trillion. According to data, this represents a 7.58% increase from the previous month.
Spot Trading Volumes Hit All-Time High
Spot trading volumes, in particular, saw a substantial increase of 8.10% to $3.73 trillion, surpassing the previous peak recorded in May 2021. This growth indicates a heightened influence of spot trading on the price of digital assets, especially during periods of market caution. As noted, “The increased spot market share highlights the heightened influence of spot trading on the price of digital assets as markets turned cautious with reports hinting at reduced rate cuts in 2025.”
Derivatives Trading Also Sees Increase
Derivatives trading volumes rose 7.33% to $7.58 trillion, marking their third consecutive monthly increase. Although derivatives still dominate the market, their share decreased to 69.2% of total trading volume, down from previous highs.
Yearly Trading Volume Tops Previous Record
Centralized exchanges witnessed nearly $76 trillion of trading volume in 2024, exceeding the $65.1 trillion record set in 2021. This growth underscores the increasing popularity of derivatives products in the crypto market.
Exchange Market Share Shifts
Some exchanges saw significant gains in market share, with Bitget, Coinbase, and Crypto.com growing their shares to 10.5%, 5.43%, and 4.71%, respectively. Conversely, Binance, OKX, and HTX lost ground, despite Binance remaining the top platform with a 35.1% market share.
The top five exchanges by market share are:
- Binance (35.1%)
- Bybit (12.8%)
- OKX (12.4%)
- Bitget (10.5%)
- Coinbase (5.43%)
Tips for Crypto Investors
When navigating the crypto market, it’s essential to stay informed about market trends and exchange volumes. Here are some tips for crypto investors:
- Monitor exchange volumes and market share shifts to identify potential opportunities.
- Stay up-to-date with market news and trends to make informed investment decisions.
- Diversify your portfolio to minimize risk and maximize potential gains.
Stay ahead of the curve with the latest news and updates on the crypto market. Follow Global Crypto News for more insights and analysis on the world of cryptocurrencies and finance.
