Post-FTX Collapse, December Ushered In Optimism: CCData
The crypto spot market experienced its lowest activity levels in over four years, exacerbated by the collapse of Sam Bankman-Fried’s FTX in November 2022.
This had a significant impact on investor trust and market depth. However, in December 2023, centralized exchanges registered a 125% rise in spot volume, reaching $2.99 trillion.
The overall trading activity in the spot market increased by 34.0%, reaching $1.34 trillion in December, marking the peak monthly spot trading volumes for the entire year of 2023.
Top-tier spot volumes rose by 35.5% to $950 billion, while lower-tier volumes also saw a significant increase of 30.5% to $398 billion.
Binance, OKX, and Bybit emerged as the top exchanges in terms of spot volume in November, representing approximately 64.3% of the total volume.
(With inputs from Shikha Singh)
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