News View Non-AMP

Crypto Trading Hits Record $75.8 Trillion in 2024: Binance Tops CEX

Published by
Mustafa Mulla

The year 2024 was historic for the cryptocurrency market, as centralized exchanges (CEXs) recorded an all-time high trading volume of $75.8 trillion. This figure shattered the previous record of $65.1 trillion set in 2021, showing a big rise in crypto trading activity worldwide

As reported by CCData, the increase in trading was driven by major trading pairs like BTC/USD, ETH/USD, and XRP/USD. Bitcoin’s BTC/USD pair hit its highest daily volume of $23.5 billion on December 15, a 15% rise compared to the previous month. 

Similarly, Ethereum’s ETH/USD pair saw daily trading volumes reach $12.8 billion on November 28, marking a 10% increase during that period. This surge also lifted investor confidence, as the Crypto Fear & Greed Index rose to “Greed” at 72 in January 2025, up from “Neutral” at 50 in December 2024.

Binance Maintains Dominance as Top CEX,

Binance continued to lead the market in 2024, maintaining the largest share among centralized exchanges. The platform closed the year with a 34.7% market share and recorded $1 trillion in spot trading volume in December

This marked Binance’s second trillion-dollar month in 2024, with the platform handling $7.4 trillion in trading volume over the year. 

Despite its dominance, Binance saw its market share decline during the year. It started 2024 with 44.1% but dropped below 40% by September, reflecting growing competition from other exchanges.

Crypto.com and Upbit Shine in Q4

Following the footstep of Binancne, Crypto.com cemented its position as the second-largest exchange by December, achieving an 11.2% market share and $322.3 billion in trading volume. 

The exchange had a strong finish to the year, with its Q4 volumes rising to $757.8 billion, much higher than earlier quarters.

Similarly, Upbit also had a remarkable year, fueled by rising activity in South Korea after political tensions in December. The exchange’s daily trading volumes grew 6x, averaging $21 billion per day, securing its position as the third-largest exchange.

With 2024 setting new records, the crypto market has laid the groundwork for an even more dynamic 2025.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Ethereum (ETH) Price Prediction: Can Rising Demand from BlackRock Fuel Bullish Momentum?

Ethereum (ETH) price experienced a similar volatility to Bitcoin (BTC) in the past 24 hours,…

June 7, 2025

Bitcoin (BTC) Price Analysis: Dead Cat Bounce or Full Blown Rebound?

After a major downfall in the relationship between the two most powerful pro-crypto individuals, Elon…

June 7, 2025

World Liberty Announces Strategic Acquisition of Official Trump ($TRUMP) and the Closure of Trump Meme Wallet

Eric Trump, the Executive Vice President of the Trump Organization, has announced a strategic partnership…

June 7, 2025

Top Layer 2 Tokens Set to Rise Once Ethereum (ETH) Price Reaches $3000

Layer 2 tokens often derive their value from the Ethereum ecosystem, as they rely on…

June 7, 2025

Gemini Takes Step Toward IPO in Confidential Filing: Crypto IPOs Heat Up

Gemini Space Station, Inc., a well established cryptocurrency exchange by the Winklevoss brothers, has filed…

June 7, 2025

What is the Best Cryptocurrency to Invest in Now? Deep Dive into the Top Crypto to Buy Today for 2025 Bull Run

As the crypto market gains momentum heading into mid-2025, investors are wondering what is the…

June 6, 2025