As December draws to a close, it marks new RECORDS: Trading volumes are at their peak for crypto trading across DEXs and CEXs.
Record Volumes in DeFi, Uniswap Leads the Pack
With 2025 just around the corner, it's time to bid farewell to 2024, a year that has accompanied us for the past 365 days.
The year 2024 will be remembered as a RECORD-breaking year, with Bitcoin and the entire crypto sector making their way into traditional finance. From the introduction of spot ETFs for Bitcoin and Ethereum to the return of DeFi, the growth of the RWA sector, and favorable development policies, the sector has experienced a strong period of transition.
This growth has been accompanied by record trading volumes throughout 2024. Trading on DEXs, in particular, hit a new ATH in December, surpassing $325 billion. This is a continuous upward trend, exceeding the previous high of $299 billion in November.
Uniswap is leading the charge, with over $105 billion traded, accounting for nearly 30% of the total volume. This ATH in volume is noteworthy, as monthly trading volumes of $100 billion were previously achieved only by PancakeSwap in May and November 2021. PancakeSwap now holds the second position, with $72 billion in volumes, followed by Raydium with $56 billion.
Record Highs for CEX Volumes Too
Although DeFi continues to grow, the majority of trading volumes are still conducted on centralized exchanges (CEXs). Considering the total trading volume, 90% is still traded on major CEXs.
In December, cumulative trading volumes on major exchanges approached $3,000 billion, levels not seen since May 2021.
As always, Binance holds the top position. Similar to Uniswap, Binance also accounts for 30% of total volumes, with over $962 billion traded in the past 30 days. Crypto.com, Upbit, Bybit, and Coinbase follow, with volumes ranging between $180 billion and $300 billion.
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By Gue22 🚀⚡🌐