Cryptocurrency trading volume broke through 100 trillion US dollars for the first time in November, with CEX's monthly spot trading volume increasing by 128%

Cryptocurrency trading volumes climbed to record highs, with digital asset trading volumes on centralized spot and derivatives exchanges surpassing $10 trillion for the first time, according to Bloomberg. Total transaction volume doubled last month, according to data compiled by CCData.

“This sentiment is reflected in increased interest in assets such as XRP, which has historically faced greater regulatory scrutiny,” said Jacob Joseph, senior research analyst at CCData. “There is also optimism on the institutional side, with CME’s Trading volume has increased significantly, and large amounts of money have flowed into spot Bitcoin ETFs.”

Monthly spot trading volume on centralized exchanges rose 128% to $3.43 trillion, the second highest level since May 2021. Derivatives trading volume climbed 89% to $6.99 trillion, surpassing March’s all-time high, according to CCData. This data does not include trading volumes on DeFi platforms. Trading volumes on many Korean spot cryptocurrency exchanges have surged as traders pile into altcoins. Additionally, CME’s total trading volume increased 83% to $245 billion, a record high.