Crypto journalist Wu Blockchain revealed the November figures for centralized cryptocurrency exchanges. Spot cryptocurrency trading saw a significant 60% increase throughout the month. While Binance remained the leader in terms of volume, it was observed to have lost some ground. In the month when Binance lost ground, exchanges such as KuCoin, OKX, and MEXC stood out and drew attention.
In November, there was a 60% increase in volume in spot cryptocurrency trading, with the most significant increases seen by KuCoin, OKX, and MEXC exchanges. The spot trading volumes of these cryptocurrency exchanges increased by 109%, 93%, and 70% respectively. Access NEWSLINKER to get the latest technology news.
Binance continued to be the largest cryptocurrency exchange in terms of spot trading volume, yet its volume increase of 53.9% was behind many other exchanges. Contrary to expectations, the volume of the US-based Coinbase exchange showed a lower increase of 61.7%.
While Binance topped the list throughout November with its generated volume, it was followed by UpBit, OKX, ByBit, and Coinbase. The top ten list was completed with Huobi, BitMart, Gate, Bitget, KuCoin, and Crypto.com respectively.
Moreover, there was a significant increase in cryptocurrency futures trading volume throughout November. The volume of cryptocurrency futures increased by 4.44% while there was an 8.5% increase recorded in website traffic for centralized cryptocurrency exchanges.