Crypto Trading Volumes Hit Record $10 Trillion in November
A new report from CCData claims that total cryptocurrency industry transaction volume hit a record high in November, reaching $10 trillion. Strong growth has been spurred by Donald Trump’s regulatory-friendly promises.
Derivatives trading has played a huge role in this growth, accounting for the majority of traffic on centralized exchanges.
CC Data Exchange Report
this Report Analyzed transaction data Centralized exchange and identified several interesting trends in this growth pattern. On the one hand, Donald Trump’s electoral victory played a key role in the industry’s wait for change. A friendlier regulatory environment. Jacob Joseph, senior research analyst at CCData, spoke and Bloomberg About this trend:
“This sentiment is evident in increased interest in assets like Ripple, which has historically faced greater regulatory scrutiny. Institutional optimism is also evident, with CME Group Inc. Trading volume has increased significantly, and spot Bitcoin ETF funds have experienced large inflows.
However, the company made it clear that this growth is not limited to U.S. companies. In fact, CCData claims that the fastest-growing exchange is South Korea’s Upbit, with monthly spot trading volume surging 358%. Surprisingly, although South Korea Regulator accuses Upbit of 600,000 KYC violations.
Cryptocurrency Options Trading also increased significantly, contributing to these overall gains. According to CCData, options trading volume on the Chicago Mercantile Exchange (CME) hit a record high, with Bitcoin options trading volume alone reaching $5.54 billion.
This represents an increase of 152%, with other assets seeing similar increases. In fact, derivatives trading accounts for the majority of total trading volume.
this OCC approves Bitcoin ETF options trading Additional options trading may be encouraged in November. CCData only looks at direct crypto traffic through centralized exchanges, so ETF trading volumes are not included in its data. However, these options still generate significant volumes, BlackRock’s market capitalization exceeds $425 million Day one.
Overall, spot and derivatives trading volumes on centralized exchanges increased by more than 100% from October to November. The final total was $10.4 trillion, according to calculations by CCData. This impressive milestone helps put into perspective the massive bull run in the cryptocurrency space.
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