Crypto spot trading surpasses May 2021 peak, fueling $11.3t activity: CCData

In December, crypto trading on centralized exchanges hit $11.3 trillion, with spot volumes blowing past the May 2021 peak as volatility spiked.

December was a huge month for crypto trading on centralized exchanges as spot and derivatives volumes combined jumped 7.58% to a record-breaking $11.3 trillion, data aggregated by CCData shows.

Spot trading hit $3.73 trillion, up 8.10%, smashing the previous peak from May 2021. Derivatives weren’t far behind, rising 7.33% to $7.58 trillion for their third straight monthly increase. But the spotlight was on spot trading, as its share of total volume grew while derivatives saw their lowest market share since June 2022.

“The increased spot market share highlights the heightened influence of spot trading on the price of digital assets as markets turned cautious with reports hinting at reduced rate cuts in 2025.”

CCData

Over the past year, centralized exchanges witnessed nearly $76 trillion of trading volume in 2024, topping the $65.1 trillion record from 2021. Derivatives trading made up 69.2% of trading volume, showing just how popular these products have become, CCData explains.

Some exchanges came out as big winners. Bitget, Coinbase, and Crypto.com grew their market shares to 10.5%, 5.43%, and 4.71%, respectively. At the same time, Binance, OKX, and HTX lost ground. Despite the decrease, Binance still remains the top platform in terms of market share, holding 35.1% of the total market, the data shows.

Bybit and OKX follow with 12.8% and 12.4%, while Bitget and Coinbase complete the top five.