The global mainstream CEX spot trading volume exceeded US$2 trillion for two consecutive months, and the market share of medium-sized exchanges increased

Global mainstream CEX spot trading volume reached US$2.94 trillion in December last year, exceeding the US$2 trillion mark for the second consecutive month, an increase of 8.5% from US$2.71 trillion in November. Binance maintains the market lead with $1 trillion in trading volume, but several mid-sized exchanges showed significant growth. Among them, Bitget’s trading volume doubled from $88 billion in November to $178 billion in December, while OKX and HTX’s trading volumes were $177 billion and $95 billion respectively. The distribution of trading volumes shows that the market structure is changing, with mid-sized exchanges taking a larger share, while Asia-Pacific platforms show increasing prominence. This shift in deal activity reflects broader geographic participation and a more diverse investor base. The strong trading volumes coincide with market performance, with Bitcoin continuing to trade between $90,000-$94,000 and the total cryptocurrency market capitalization remaining above $3 trillion. Additionally, altcoins rallied during the month, with Bitcoin dominance falling to a monthly low of 51%, having reached 54% at the end of last year. The analysis noted that multiple factors appear to be driving market dynamics, including increasing retail participation across regions, new products launched by smaller exchanges, and enhanced market infrastructure supporting higher trading volumes. The increase in trading activity also reflects broader institutional acceptance of cryptocurrency trading, especially as markets anticipate President Trump taking office this month. (The Block)