Centralized cryptocurrency exchange's monthly transaction volume doubles, surpassing $10 trillion for the first time in November
According to Bloomberg, the cryptocurrency trading activity in November soared under the optimistic expectation of the market that the Trump government might implement friendly regulatory measures. According to the data compiled by CCData, a research institution, the monthly transaction volume of spot and derivatives on the centralized exchange soared 101% to 10.4 trillion US dollars.
This sentiment is evident in the increasing demand for assets like Ripple, which have traditionally faced stricter regulatory scrutiny, "said Jacob Joseph, a senior research analyst at CCData
According to CCData, the spot trading volume of centralized exchanges increased by 128% in November, reaching $3.43 trillion, the second highest value since May 2021. The transaction volume of derivatives increased by 89%, reaching 6.99 trillion US dollars, surpassing the historical record set in March this year.
As traders invest in altcoins trading, trading activity on several Korean spot cryptocurrency exchanges, including Upbit, has surged. CME The total transaction volume of the exchange increased by 83% to $245 billion, setting a new historical high for this institutional exchange that provides cryptocurrency futures.
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