Crypto Trading Volume Reaches $10.4 Trillion in November
Centralized crypto trading reached $10.4 trillion in volume in November, as reported by CCData. This increase was primarily driven by derivatives trading, which constituted the majority of activity on centralized exchanges. The growth coincided with regulatory advancements and rising institutional interest.
Donald Trump’s electoral victory generated optimism for a more favorable regulatory environment for cryptocurrencies. This shift positively impacted assets like Ripple and led to significant inflows into Bitcoin exchange-traded funds (ETFs). CME Bitcoin options volumes reached an all-time high of $5.54 billion, marking a 152% increase from the previous month.
South Korea’s Upbit experienced a 358% increase in trading volume despite facing over 600,000 Know Your Customer (KYC) violations. This global growth indicates rising interest in crypto trading beyond the U.S.
Derivatives trading significantly contributed to this surge as institutions showed increased interest in crypto options. The launch of Bitcoin ETF options, approved by the U.S. Office of the Comptroller of the Currency (OCC), likely enhanced this trend. BlackRock's Bitcoin ETF achieved over $425 million in trading volume on its first day.
The combined spot and derivatives trading volume on centralized exchanges more than doubled from October to November, resulting in a new record of $10.4 trillion—an increase of 100%. Analysts anticipate continued growth as retail and institutional investors become more active in the market.
This data reflects a strong demand for crypto amid a bullish market, driven by regulatory changes and broader adoption. With exchanges like Upbit and platforms like CME leading the way, the crypto market is poised for unprecedented growth.