Crypto Trading Hits Record $75.8 Trillion in 2024: Binance Tops CEX
2024 was a historic year for the cryptocurrency market, with trading volume on centralized exchanges (CEX) hitting an all-time high of $75.8 trillion. This figure breaks the previous record of $65.1 trillion set in 2021 and shows a significant increase in global cryptocurrency trading activity
According to CCData, the growth in trading volume was driven by major trading pairs such as BTC/USD, ETH/USD, and XRP/USD. Bitcoin’s BTC/USD currency pair hit its highest daily trading volume of $23.5 billion on December 15, up 15% from the previous month.
Likewise, Ethereum’s ETH/USD currency pair reached $12.8 billion in daily trading volume on November 28, a 10% increase over the period. This surge has also boosted investor confidence, with the Cryptocurrency Fear & Greed Index rising from a “neutral” 50 in December 2024 to a “greedy” 72 in January 2025.
Binance maintains dominance as top CEX,
Binance continues to lead the market in 2024, maintaining the largest share among centralized exchanges. The platform is closed The annual growth rate is 34.7% Market share and spot volume hit $1 trillion in December
This marks Binance’s second trillion-dollar month in 2024, with the platform’s full-year trading volume reaching $7.4 trillion.
Despite its dominance, Binance Its market share declined during the year. At the beginning of 2024, the ratio was 44.1%, but it fell below 40% by September, reflecting increasing competition from other exchanges.
After Binancne, Crypto.com consolidated its position as the second largest exchange by December, gaining 11.2% market share and $322.3 billion in trading volume.
The exchange has had a strong year, with fourth-quarter trading volume rising to $757.8 billion, well above previous quarters.
Likewise, Upbit has had a remarkable year, benefiting from increased activity in South Korea following political tensions in December. The exchange’s daily trading volume increased six-fold to an average of $21 billion per day, solidifying its position as the third largest exchange.
With new records set in 2024, the cryptocurrency market has set the stage for a more dynamic 2025.
