Odaily Planet Daily News According to data shared by the cryptocurrency market tracking agency New Hedge, the trading volume of spot cryptocurrency exchanges in November reached $2.9 trillion, the highest level since May 2021. A spokesperson from Crypto.com stated that November was their 'strongest month last year,' with the platform's trading volume hitting an all-time high. 'As a company and as an industry, we are seeing increased interest and investment in cryptocurrencies, which has led to record global trading volumes in recent weeks. We expect positive market sentiment to continue into the first quarter of next year,' they added. According to the spokesperson, this growth may have been triggered by the recent election results in the United States and the clearer prospects for further regulation in major markets, and they believe this is an important factor driving global adoption and increased trading volume. Kraken Australia's Managing Director Jonathon Miller stated that the exchange also experienced a robust month, particularly in perpetual contract trading volume. Miller noted that Bitcoin perpetual contracts accounted for most of the trading volume, and Solana and Dogecoin perpetual contracts set monthly historical highs. He added, 'Kraken's perpetual contract trading volume surged as various traders sought leveraged exposure or hedged against the risk of a market improvement post-election.' A spokesperson from Binance stated in an interview that the exchange 'has observed an increasing number of participants entering the cryptocurrency space,' speculating that this may be due to various factors, such as the approval and continued success of Bitcoin ETFs in major markets, while recent changes in macroeconomic conditions have also played a significant role in Bitcoin's rise. Additionally, the Trump administration's favorable outlook on cryptocurrencies has injected optimism into the market, as he pledged during his campaign to make the U.S. a global cryptocurrency hub. (Cointelegraph)

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