Breaking
February 17, 2025

Top crypto exchanges double trading volume in Q4, reaching $6.4 trillion Cryptopolitan News | usagoldmines.com

The top ten centralized crypto exchanges (CEXs) recorded a 111.7% increase in their trading volume for Q4 of 2024, finishing the last quarter with an overall trading volume of $6.4 trillion. Crypto data aggregator CoinGecko disclosed this in its latest report analyzing the performance of CEXs.

According to the report, eight of the top ten CEXs saw more than a 100% increase in their trading volume, highlighting the massive increase in activity during the last quarter. The best performer was Upbit, which experienced over 300% growth in its trading volume.

However, other exchanges, such as Coinbase and Crypto.com, also recorded more than 150% growth, while Gate.io, MEXC, Bitget, and OKX saw increases varying between 137% and 120%. The world’s largest exchange by market share, Binance, also doubled its trading volume, but ByBit and HTX only recorded 44.7% and 13.9% increases, respectively.

Overall, Q4 was the best of the four quarters for the exchanges, with the annual trading volume for the top CEXs at $17.4 trillion. Binance alone accounted for $7.4 trillion.

Binance remains the biggest exchange even as dominance fades

Meanwhile, Binance remains the biggest exchange in the world, both for spot and decentralized trading, even as other exchanges are slowly creeping up on it.

According to CoinGecko, the exchange recorded $1 trillion in total spot trading volume for December 2024, finishing the year with a 34.7% market share.

This was still not its best month in 2024, as it had pulled in $1.1 trillion in monthly volume in March 2024. Despite finishing the year on what seems like a high, Binance market share declined throughout as it started 2024 with a 44.1% share.

However, Crypto.com is showing that it is ready to compete by now solidifying itself in second place. It finished the year with an 11.2% market share after its trading volume grew by 12.7% in December, enabling it to record $322.3 billion in trading volume.

Overall, Crypto.com saw $757.8 billion in volume for Q4, more than the combined $539.8 billion in the first three quarters. This highlights its rise due to several factors, including its extensive global reach, rise in institutional clients, and general surge in digital assets value in Q4.

The only other exchange with up to 9% market share was Upbit, which had 9.8% after recording $283.7 billion in December. Its surge in Q4 was amplified by the declaration of martial law in South Korea on December 3.

During that political turmoil, the daily volume on Upbit increased 6x to $21 billion. The other seven exchanges have 44.3% of the market share, with Bybit, Gate.io, and Coinbsse having 8.9%, 6.8%, and 6.5%, respectively.

Crypto market sets record for activity in December

Meanwhile, the massive trading volume for CEXs in Q4 is mostly due to December performance. During the month, the crypto market broke records for spot and derivates trading. According to CCData,  CEXs saw an 8.10% increase, spot trading to reach $3.73 trillion volume, the highest ever.

The derivatives market was equally good, with a third consecutive increase leading to a $7.58 trillion trading volume. Combined, trading volume for both CEX spot and derivatives markets increased by 7.58% in December to reach $11.3 trillion, a record high.

Interestingly, the share of the derivatives market in total trading volume continues to decline, falling to 67% from 67.2% in November. This is the lowest level since June 2022.

Binance is also the leading CEX for derivatives market share, with $3.02 trillion accounting for 39.9% of the December market share. OKX had 16.3% for $1.23 trillion, while ByBit completed the top three with 12.4% for $1.20 trillion. Coinbase was the best-performing CEX for derivatives, with a 378% increase to $416 billion.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

 

This articles is written by : Nermeen Nabil Khear Abdelmalak

All rights reserved to : USAGOLDMIES . www.usagoldmines.com

You can Enjoy surfing our website categories and read more content in many fields you may like .

Why USAGoldMines ?

USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.

Recent:

Crypto News | Solana DEX Trading Volume Drops to $2.61B, Lowest Since Mid-December Chayanika Deka |...

Crypto News | Institutional investors hold $27B in Bitcoin ETF shares, controlling over 25% of total...

Crypto News | StanChart, Animoca Brands and HKT launch joint venture to develop Hong Kong dollar-bac...

US-based addresses were the most active in trading the latest wave of official meme coins Hristina V...

Bitcoin’s dominance on the rise as meme-coins struggle with volatility Collins J. Okoth | usagoldmin...

Javier Milei is still on LIBRA, he has reposted a tutorial on how to buy the Solana memecoin Florenc...

Famed Silicon Valley Angel Investor Slams Ripple’s XRP As ‘A Centrally Controlled Security’ Brenda N...

Solana (SOL) Aims For $300 as Dogecoin (DOGE) and This New Coin Prepare to Join in the Next Leg Up C...

Are Meme Coins Hurting Solana? Rising Selling Pressure Sparks Investor Concerns Sebastian Villafuert...

The Witcher 3 lead quest designer hates some aspects of the game Noor Bazmi | usagoldmines.com

Analysts defend Pi network’s credibility – Binance calls for a PI community vote Florence Muchai | u...

DeepSeek AI Reveals 3 Cryptos Set for 10x Gains in 2025 Tim Hakki | usagoldmines.com

Bitcoin and Ethereum ETFs Faced Outflows, But BlackRock’s IBIT ETF Gains $106M Hassan Shittu | usago...

Tether Signs MoU with Guinea for Blockchain Adoption and Digital Economy Hongji Feng | usagoldmines....

Libra Founder Claims Criticisms Are Due to People Missing Out on Insider Deals Jimmy Aki | usagoldmi...

Missed Out on XRP? Don’t Worry, Mutuum Finance is Here with Even More Potential Cryptopolitan Media ...

Top Cryptos for Long-Term Investment- The Best Digital Assets to Hold Until 2025 Cryptopolitan Media...

Crypto News | XRP a ‘Centrally Controlled Security’? John Deaton Disagrees Wayne Jones | usagoldmin...

Crypto News | Bitcoin Sees $430M in Outflows as Market Responds to Fed’s Hawkish Stance Chayanika D...

Crypto News | Best Wallet Hits $10M Milestone in Token Presale as Some Experts Think it Might Explo...

Crypto News | Early Investors Pour $2M into BTC Bull Token Presale – Great Way to Earn Bitcoin Rewa...

Crypto News | User burns 600 ETH to send sci-fi message warning of Chinese use of brain control devi...

Crypto News | HK Asia’s symbolic 1 Bitcoin purchase sparks nearly 93% stock surge Assad Jafri | usag...

FTX Payouts, Trump-Musk Talk, and FOMC Minutes Could Reignite Crypto Market Nidhi Kolhapur | usagold...

Texas Senate’s Bitcoin Reserve Hearing Tomorrow: A Game Changer or Symbolic Move? Nidhi Kolhapur | u...

Breaking: Elon Musk’s DOGE Launches SEC Probe as Ripple Lawsuit Nears End Nidhi Kolhapur | usagoldmi...

AUSTRAC cracks down on 13 remittance and crypto providers Nellius Irene | usagoldmines.com

Is Binance for sale, and to whom? Yi He addresses rumors Florence Muchai | usagoldmines.com

Americans take a different stance, they support Musk’s DOGE Florence Muchai | usagoldmines.com

Cardano Price Eyes Impulse Move After Bearish RSI Divergence Was Invalidated, Here’s The Target Scot...

$415m exits crypto funds, ending 19-week inflow run – CoinShares Vignesh Karunanidhi | usagoldmines....

Corsair CEO believes GTA 6 might come to PC in 2026; the release window is still set for the fall of...

Elon Musk’s D.O.G.E gets access to US taxpayer information Jai Hamid | usagoldmines.com

Shping coin price prediction 2025-2031: Is SHPING a good investment? Aamir Sheikh | usagoldmines.com

Solana Price Slips – Could Upcoming Unlocks Send SOL Below $50? Simon Chandler | usagoldmines.com

Traders Flock to Bitcoin and Layer-1 Assets as Meme Coin Hype Fades Veronika Rinecker | usagoldmines...

Standard Chartered, Animoca Brands & HKT Partner to Launch HKD Stablecoin Hassan Shittu | usagol...

Scammers Impersonate Saudi Crown Prince to Launch Fake Crypto Amid Meme Coin Hype Ruholamin Haqshana...

Mantra Defies the Sell-Off – Could OM Be the Strongest Altcoin in the Market? Alejandro Arrieche | u...

Russia, Iran Use Crypto to Bypass Western Sanctions – Chainalysis Report Veronika Rinecker | usagold...

Pokémon Criminal Syndicate Stealing Crypto ATMs Gets Knocked Down Sead Fadilpašić | usagoldmines.com

Germany’s Central Bank President Advocates for Digital Euro to Bolster Financial Independence Jimmy ...

Binance Coin Faces Strong Selling – Can It Recover and Overtake Ethereum? Alejandro Arrieche | usago...

Bitcoin’s Big Breakout? Fed’s “Not QE, QE” Just Flipped The Switch Jake Simmons | usagoldmines.com

Crypto News | MELANIA Token Unlock Set for February 19-20 – Will Selling Pressure Increase? Chayani...

Crypto News | Metaplanet Buys $25.6M in Bitcoin, Boosting Holdings to 2,031 BTC Wayne Jones | usago...

Crypto News | Major Pi Network (PI) Price Predictions Ahead of Open Mainnet Launch: Possible or Com...

Crypto News | Bubblemaps Exposes LIBRA’s $100M Insider Scheme: Here’s What You Need to Know Chayani...

Crypto News | Avarik Labs Launches Red Covenant, a Strategic Mobile RPG with Blockchain Integration...

Crypto News | Colend Roadmap for 2025: New Features, Subscription model and the First Crypto Credit...

Crypto News | Surrey University’s Blockchain and Metaverse Academy Unveils AI-Powered Vision for th...

Crypto News | Ethereum Price Analysis: $2200 or $3000, Which Comes First for ETH? CryptoVizArt | us...

Crypto News | Bitcoin Trading Between $90K and $105K, but Accumulation Remains Evident Chayanika De...

Crypto News | Sonic Kicks Off $1M Mobius Hackathon Wayne Jones | usagoldmines.com

Crypto News | Federal liquidity increase could boost Bitcoin amid debt ceiling constraints Liam 'Aki...

Crypto News | Phishing attempt strikes FTX creditors on the brink of repayments Oluwapelumi Adejumo ...

Crypto News | Urgent Ethereum Geth patch addresses Merge oversight and prevents financial loss for v...

Crypto News | Argentina’s stock market plummets amid President Javier Milei’s LIBRA memecoin scandal...

XRP Price Poised for 20% Rally as Whales Buy 60M Tokens Chandan Gupta | usagoldmines.com

Washington DC’s economy looks like 2008 – How bad will it get? Florence Muchai | usagoldmines.com

Mutuum Finance: The Low-Cost DeFi Token Defying the Odds and Outperforming Giants Cryptopolitan Medi...

Everything about Javier Milei’s Memecoin ($LIBRA) Victor | usagoldmines.com

MicroGPT: The Latest AI+Crypto Gem to Watch Lawrence Mike Woriji | usagoldmines.com

$LIBRA: From the Creators of $MELANIA? Victor | usagoldmines.com

Milei plans key US trip to seek IMF funds from Trump amid his memecoin blackeye Florence Muchai | us...

Ethereum wallet burns 500 ETH to spread ominous warning about Kuande Investments Hristina Vasileva |...

ADA Price Stagnates as ETF Speculation Grows – Is This the Calm Before the Storm? Simon Chandler | u...

Best Presales This Year as Analysts Predict Bitcoin Bull Run Amidst Market Chaos Krishi Chowdhary | ...

Ethereum Forms A Bullish Pattern – Expert Reveals Short-Term Price Target Sebastian Villafuerte | us...

Fed Could Sell Gold Reserves To Fund Bitcoin Purchases: Bernstein Nidhi Kolhapur | usagoldmines.com

Standard Chartered, Animoca Brands and HKT partner to issue HKD-backed stablecoin Florence Muchai | ...

PancakeSwap price prediction 2025-2031: Is CAKE set to rally? Aamir Sheikh | usagoldmines.com

Eliza founder speaks out after hack causes investor wipeout Ashish Kumar | usagoldmines.com

Crypto Analyst Predicts 1,500% Pump As Litecoin Grows Against Bitcoin Scott Matherson | usagoldmines...

Crypto News | Bitcoin still en route to $1 million amid focus shift to memecoins Liam 'Akiba' Wright...

Crypto News | Now is a great time to consolidate Bitcoin UTXOs to avoid wasting BTC in fees Liam 'Ak...

Crypto News | Metaplanet makes first Bitcoin purchase in 2025, buys 269 BTC Oluwapelumi Adejumo | us...

Crypto Fraud Exposed: LIBRA, MELANIA Linked to $87M Insider Trading Scheme Mustafa Mulla | usagoldmi...

Lutnick’s Role in Trump’s U.S. Sovereign Wealth Fund Revealed: What Does It Mean for Bitcoin? Vignes...

Will FTX’s Final $2 Billion Solana (SOL) Dump Trigger a Crypto Market Crash? Debashree Patra | usago...

Is Pi Coin a Hit or a Scam? Crypto Experts Debate Ahead of Mainnet Launch Zameer Attar | usagoldmine...

Bitcoin Price Prediction 2025: Is $150K Within Reach? McGlone’s Outlook Zameer Attar | usagoldmines....

Elon Musk’s D.O.G.E To Audit U.S Biggest Gold Reserve Says U.S. Senator Mustafa Mulla | usagoldmines...

Big News: Binance Rejects ‘Sale’ Rumors, Claims Smear Campaign by Rival Exchanges Anjali Belgaumkar...

Hong Kong To Launch New Stablecoin As Standard Chartered, Animoca Brands, HKT Join Hand Mustafa Mull...

Saudi Law Conference X Account Hacked to Promote Fraudulent Memecoins Nidhi Kolhapur | usagoldmines....

West Virginia Proposes Bitcoin Reserve Bill Victor | usagoldmines.com

Stablecoins are starting to flow out of Solana after meme token peak Hristina Vasileva | usagoldmine...

XRP’s Biggest Hater Dramatically Changes Tune, Predicts Monstrous Explosion To $24: Here’s Why Brend...

BTC is ‘Generational Opportunity’ as World Nears Total Chaos, Says Bitwise Exec Sead Fadilpašić | us...

Binance Co-Founder Dismisses Sale Rumors, Blames Competitors for Misinformation Ruholamin Haqshanas ...

Worldcoin Launches in the Philippines with World ID Amid Privacy Debate Hassan Shittu | usagoldmines...

11.2 million SOL from the FTX bankruptcy auction to be unlocked in March Florence Muchai | usagoldmi...

Pepe Coin Price Prediction: Can PEPE 100x Again? New Rival Token at $0.01 Looks Like a Smarter Play ...

3 Best Altcoins to Buy After SEC Delays Response to Coinbase Appeal Krishi Chowdhary | usagoldmines....

Pump fun Launches Mobile App Tari | usagoldmines.com

Google updates crypto ad policy in UAE Lara Abdul Malak | usagoldmines.com

MURA and MELANIA memecoin lead token unlocks this week Vignesh Karunanidhi | usagoldmines.com

Astra Nova Partners with Epic Games to Advance AI-Powered Game Development Cryptopolitan Media | usa...

Solana Bearish Trend Deepens: Is $164 Support the Next Stop For SOL? Godspower Owie | usagoldmines.c...

Leave a Reply