Spot Crypto Trading Volumes Hit Record $3.73 Trillion in December, Surpassing May 2021 Peak

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

Cryptocurrency trading on centralized exchanges soared to a record $11.3 trillion in December, driven by a surge in spot volumes that surpassed the previous peak set in May 2021, according to data from CCData.

Spot trading volumes reached $3.73 trillion, up 8.10% from the previous month, and smashing the previous record of $3.45 trillion set in May 2021. Derivatives trading also saw a substantial increase, rising 7.33% to $7.58 trillion, marking the third consecutive month of growth.

However, the spotlight was on spot trading, as its share of total volume increased 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 noted.

Over the past year, centralized exchanges witnessed nearly $76 trillion of trading volume in 2024, easily surpassing the $65.1 trillion record from 2021. Derivatives trading constituted 69.2% of the trading volume, showcasing the immense popularity of these products, according to CCData.

Some exchanges emerged as clear winners. Bitget, Coinbase, and Crypto.com saw their market shares grow to 10.5%, 5.43%, and 4.71%, respectively.

In contrast, Binance, OKX, and HTX experienced declines. Despite the decrease, Binance still remained the top platform in terms of market share, holding 35.1% of the total market, according to the data.

Bybit and OKX followed with 12.8% and 12.4%, respectively, while Bitget and Coinbase completed the top five.