The post November record for trading on CEX appeared on BitcoinEthereumNews.com.

The cryptocurrency market experienced significant growth in November 2024, with centralized exchange platforms (CEX) reaching record trading volumes.  The combined trading volume of spot and derivatives on CEX increased by 101%, reaching 10.4 trillion dollars in the month of November alone. Growth of trading volumes on CEX Spot trading on CEX saw an increase of 128%, reaching 3.43 trillion dollars, marking the second highest monthly record since the peak of May 2021. On November 12, the daily volume of spot trading hit 221 billion dollars, setting a new all-time high for daily activity on CEX. Derivative trading has also shown significant growth, with an 89.4% increase bringing the volume to 6.99 trillion dollars, surpassing the previous record of March 2024.  However, the market share of derivatives on CEX has fallen to 67.1% from 71.1% the previous month, due to the increase in spot accumulation activity and the surge in prices of main digital assets. Binance has maintained the leading position among CEX, with a market share of 39.1% and a spot trading volume of 979.1 billion dollars in November, recording an increase of 130.9% compared to October.  Crypto.com has consolidated its position as the second largest platform, with a market share of 11.4% and a spot trading volume of 286.1 billion dollars, marking an increase of 91.5% compared to the previous month. Upbit ranked third, with a market share of 9.3% and a trading volume of 231.8 billion dollars, recording an increase of 387.8% compared to October. The remaining platforms in the top 10 each held less than 9% market share, with a combined dominance of 40.2% in November. Factors influencing growth The growth of trading volumes on CEX can be attributed to several key factors: Institutional adoption: The growing interest from institutional investors has led to a significant increase…

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Filed under: News - @ December 14, 2024 9:15 am