In November, the trading volume of cryptocurrencies soared, breaking historical records, with the trading volume of digital assets on centralized spot and derivatives exchanges surpassing the remarkable $10 trillion threshold for the first time.
Last month's trading volume saw a doubling growth. All of this seems to have quietly happened amid the optimistic expectations brought by the newly elected Trump administration. The cryptocurrency market soared due to people's hopes for a more friendly regulatory environment, with the leading Bitcoin rising by 38%, breaking through the historical high of nearly $100,000, how can this not excite people?
Jacob Joseph, a senior research analyst at CCData, provided unique insights: 'This frenzy is not only reflected in people's growing interest in assets like Ripple that are under regulatory scrutiny, but also evident at the institutional level. Over the past month, trading volume on the Chicago Mercantile Exchange (CME) surged, with large amounts of capital flooding into spot Bitcoin ETFs.'
In this feast, the monthly spot trading volume of centralized exchanges is equally impressive, growing by 128% to an astonishing level of $3.43 trillion, marking the second-highest peak since May 2021. The derivatives trading volume is also not to be underestimated, increasing by 89% to a new high of $6.99 trillion, even surpassing the historical peak in March. It is worth noting that these figures do not include the trading volume of decentralized finance platforms!
Even more impressive is that as traders flock to the altcoin market, the trading volume of many South Korean spot cryptocurrency exchanges (such as Upbit) has also experienced explosive growth. The total trading volume on the Chicago Mercantile Exchange (CME) increased by 83%, reaching a historical high of $245 billion, becoming a leader among institutional exchanges offering cryptocurrency futures.
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The above content is for information sharing only and does not constitute any investment advice! Investing involves risks, and you should be cautious when entering the market!
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