The yr 2024 was historic for the cryptocurrency market, as centralized exchanges (CEXs) recorded an all-time excessive buying and selling quantity of $75.8 trillion. This determine shattered the earlier document of $65.1 trillion set in 2021, displaying a giant rise in crypto buying and selling exercise worldwide
As reported by CCData, the rise in buying and selling was pushed by main buying and selling pairs like BTC/USD, ETH/USD, and XRP/USD. Bitcoin’s BTC/USD pair hit its highest each day quantity of $23.5 billion on December 15, a 15% rise in comparison with the earlier month.
Equally, Ethereum’s ETH/USD pair noticed each day buying and selling volumes attain $12.8 billion on November 28, marking a ten% improve throughout that interval. This surge additionally lifted investor confidence, because the Crypto Worry & Greed Index rose to “Greed” at 72 in January 2025, up from “Impartial” at 50 in December 2024.
Binance Maintains Dominance as Prime CEX,
Binance continued to steer the market in 2024, sustaining the biggest share amongst centralized exchanges. The platform closed the yr with a 34.7% market share and recorded $1 trillion in spot buying and selling quantity in December
This marked Binance’s second trillion-dollar month in 2024, with the platform dealing with $7.4 trillion in buying and selling quantity over the yr.
Regardless of its dominance, Binance noticed its market share decline through the yr. It began 2024 with 44.1% however dropped beneath 40% by September, reflecting rising competitors from different exchanges.
Following the footstep of Binancne, Crypto.com cemented its place because the second-largest trade by December, attaining an 11.2% market share and $322.3 billion in buying and selling quantity.
The trade had a powerful end to the yr, with its This fall volumes rising to $757.8 billion, a lot larger than earlier quarters.
Equally, Upbit additionally had a exceptional yr, fueled by rising exercise in South Korea after political tensions in December. The trade’s each day buying and selling volumes grew 6x, averaging $21 billion per day, securing its place because the third-largest trade.
With 2024 setting new data, the crypto market has laid the groundwork for an much more dynamic 2025.