- CEXs experienced a surge in spot and futures trading volume in October.
- Leading the pack in spot volume growth were Crypto.com (201%), Upbit (75%), and Bybit (73%).
- This increased activity came following the Bitcoin-led bull rally that commenced in October.
In October, the spot trading landscape witnessed a substantial interest surge, with leading centralized exchanges (CEXs) collectively experiencing a remarkable 57.5% month-on-month increase in volume. According to the well-known crypto-focused Chinese reporter Colin Wu, these figures recorded for October were last seen six months ago.
CEX Data in Oct: The spot trading volume rosed by 57.5% MOM, hitting a new high since April of this year. Derivative trading volume rosed by 44.5% MOM. The website traffic increased by 15.6% MOM. Read more https://t.co/FYaUDHnjFF pic.twitter.com/ws9sL4UXHR— Wu Blockchain (@WuBlockchain) November 13, 2023
Furthermore, Wu noted that the frontrunner exchanges in spot trading volume growth were Crypto.com, Upbit, and Bybit. Specifically, he disclosed that Crypto.com recorded approximately $5 billion spot volume in September, only to surge 201% to nearly $15 billion in Octobe…
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