CEX trading volume exceeds US$1 trillion in December 2023

In December, monthly trading volume on cryptocurrency exchanges topped $1 trillion, a threshold that has not been breached in more than a year.

December was the peak month for cryptocurrency trading, with trading volume totaling $1.1 trillion. The data also shows that the last time monthly trading volumes on cryptocurrency exchanges exceeded this level was in September 2022, when trading volumes totaled $1.03 trillion.

The increase in exchange trading volume in the last month of 2023 was also the highest monthly mark since May 2022 when trading volume reached $1.35 trillion.

Among rival exchanges, Binance led the month of December with 39.3% of the month’s trading volume at $432.7 billion, followed by Upbit with 8.3% and $9.18 billion in volume, and then OKX Accounting for 8%, or US$87.5 billion.

The surge in activity in December was likely due to the crypto industry’s excitement over the approval of a spot Bitcoin ETF.

“December is historically a slow month for crypto trading during the holiday season. The fact that monthly spot trading volume topped $1 trillion for the first time in over a year really speaks to the industry’s enthusiasm for the impending Bitcoin spot ETF approval and the market Optimism about the rebirth of growth markets.”

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Anne

According to “Block”