In November, centralized crypto trading hit a significant milestone, reaching $10.4 trillion in volume, according to CCData. This increase was mainly caused by derivatives trading, which made up most of the activities on centralized exchanges. Trading volume went up along with positive changes in regulations and more interest from institutions in cryptocurrencies.
People felt hopeful about Donald Trump’s election win, which led to expectations for friendlier rules for cryptocurrencies. This had a positive effect on assets like Ripple and resulted in big investments in Bitcoin exchange-traded funds (ETFs). CME Bitcoin options volumes reached a record high of $5.54 billion, which is a 152% rise from last month.
Upbit, a South Korean exchange, saw a remarkable 358% increase in trading volume, even while dealing with regulatory issues concerning KYC violations. This growth highlights the increasing interest in crypto trading outside the U.S. market.
Derivatives trading became an important part of this growth, as institutions showed more interest in crypto options. The launch of Bitcoin ETF options, approved by the U.S. Office of the Comptroller of the Currency, increased this momentum. BlackRock’s Bitcoin ETF had a strong start, reaching over $425 million in trading volume on its first day.
The total trading volume for spot and derivatives on centralized exchanges more than doubled from October to November, showing strong interest in crypto during a positive market period. Analysts expect this upward trend to continue as both retail and institutional investors get more involved in the crypto space.
