Crypto Trading Volumes Surge to Record Highs in December 2024

January 16, 2025 11:00 AM AEDT | By Team Kalkine Media

Crypto Trading Volumes Surge to Record Highs in December 2024 — Image source: shutterstock

Spot Trading Dominated by Binance and Other Leaders

Binance maintained its position as the leading exchange for spot trading, recording a volume of $946 billion in December, a slight increase of 0.13% from the previous month. Bybit followed with $247 billion, reflecting a significant rise of 18.8%. Coinbase ranked third with $191 billion, up by 9.62%.

These figures underscore the intense market activity observed in December, as traders capitalized on volatility and sought opportunities across various exchanges.

Derivatives Trading Reaches New Peaks

The derivatives market also recorded remarkable growth, with trading volumes increasing by 7.33% to hit $7.58 trillion—a record high for this segment. December marked the third consecutive month of growth in derivatives volumes. The spike was attributed to traders leveraging volatility in both directions, with liquidations contributing to the dynamic market conditions.

This surge in derivatives activity highlights their growing role in the crypto market, offering mechanisms for traders to manage risk and speculate on price movements effectively.

Bitcoin’s Historic Rally Above $100,000

Bitcoin’s ascent past the $100,000 mark was a defining moment in December. The rally was fueled by optimism following the U.S. Consumer Price Index report, which indicated lower-than-anticipated core inflation for December. This data heightened expectations for rate cuts from the U.S. Federal Reserve, pushing Bitcoin’s spot price from approximately $96,000 to a record $100,522.

The market now turns its attention to the Federal Reserve’s upcoming interest rate decision on January 29, which could shape the direction of crypto prices in the months ahead.

December 2024 underscored the rapid evolution of the cryptocurrency market, with record-breaking trading volumes and Bitcoin’s historic price movement. As centralized exchanges like Binance, Bybit, and Coinbase drive trading activity, and derivatives markets reach new peaks, the sector continues to showcase its dynamic nature. The intersection of macroeconomic factors and market innovation remains pivotal as 2025 unfolds.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.