Crypto exchange volume falls to 15-month low in December
Centralized crypto exchange spot trading volume dropped 32% in December to its lowest level since September 2024.Summary
Monthly spot trading volume on centralized crypto exchanges plummeted to $1.13 trillion in December, marking the lowest level since September 2024. This represents a 32% decrease from November and a 49% drop from October, attributed by Kronos Research's CIO, Vincent Liu, to seasonal sentiment, suppressed volatility, and year-end positioning.
Binance led the centralized exchanges with $367.35 billion in volume. Meanwhile, decentralized exchanges (DEXs) also saw a pullback, with volume falling 20% to $245 billion, though Uniswap maintained dominance with $60 billion.
Despite the overall decline, the ratio of DEX-to-CEX trading volume increased to 17.95%, signaling a structural shift toward self-custody and transparency. Liu noted that improved on-chain execution and airdrop incentives are attracting incremental DEX activity. This volume contraction coincided with a broader market correction, with Bitcoin consolidating near $87K–$89K.
(Source：The Block)