New data shows that prominent centralized exchange platforms (CEX), including Crypto.com and Bybit, saw their trading volumes increase in December.
According to blockchain reporter Colin Wu, the total spot trading volume of centralized crypto exchanges increased in December rose 27.4% month-on-month, despite some of them seeing notable declines.
“In December, the spot trading volume of the major exchanges increased by 27.4% month-on-month. The top three in terms of percentage change were Gate with 65%, Crypto.com with 50% and Bybit with 44%. The bottom three were BitMart with -24%, Bitget with -12% and Upbit with -1%.
According to Wu’s data, derivatives trading on the major crypto exchanges rose 22.3% month-on-month, while overall traffic to their websites rose 21% month-on-month.
“Derivatives trading volume saw a 22.3% month-on-month increase in December across the major exchanges. The top three in terms of percentage change were Crypto.com with 46%, Bitget with 42% and Binance with 26%. The bottom three were Mexc with -13%, Huobi with -5% and Kucoin with 14%.
In terms of website traffic for major trade shows in December, there was a 21% increase month over month. The top three in terms of percentage change were Mexc with 45%, Bybit with 38% and Gate with 34%. The bottom three were Huobi with -80%, BitMart with -17% and Bitget with 8%.
In December, market intelligence platform Glassnode suggested that an increase in flows to crypto exchanges meant that institutional investors were preparing for the possible adoption of a spot-traded Bitcoin (BTC) fund.
At the time, an analysis by the firm found that the 30-day simple moving average (SMA) of Bitcoin flows into and out of exchanges grew 220% from the start of the year, from $930 million to $3 billion.
The US Securities and Exchange Commission (SEC) will approve or reject BTC ETFs in the spot market sometime today.
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Generated image: Midjourney
