The increase in volume in spot transactions attracted attention, especially as the peak in May 2021 was left behind. The total of spot and derivative transactions increased by 7.58% to 11.3 trillion dollars.

According to CCData data, spot transactions reached an all-time high, reaching $3.73 trillion with an increase of 8.10%. Derivative transactions increased by 7.33% and reached 7.58 trillion dollars.

In December, spot transactions attracted attention by increasing their share in total volume. The market share of derivative transactions fell to its lowest level since June 2022. This development reveals the increasing importance of spot trading for market participants.

In 2024, central exchanges reached a total volume of $76 trillion, surpassing the record of $65.1 trillion in 2021. 69.2% of the total annual volume consisted of derivative transactions, indicating that these products remain popular in the market.

While some stock markets completed December with big gains, others lost market share. Platforms such as Bitget, Coinbase and Crypto.com attracted attention by increasing their market shares to 10.5%, 5.43% and 4.71%, respectively.

On the other hand, major players such as Binance, OKX and HTX experienced a decline in their market shares. However, Binance still remains the platform with the largest market share with 35.1%. Binance is followed by Bybit with 12.8% and OKX with 12.4%. Other exchanges completing the top five were Bitget with 10.5% and Coinbase with 5.43%.

Derivative transactions also created a significant volume in December. However, the increase in the share of spot transactions in the total volume shows that investors prefer to do more direct trading in this period. This indicates the importance of spot trading in periods when it was perceived as a safe haven.

While the volatility experienced in December increased trading volumes, how this increase can be sustained throughout the year remains an important question mark. Intensifying competition, especially among central exchanges, brings new user acquisition and innovation strategies to the agenda.

December data once again revealed the dynamic structure of crypto markets and the critical role of central exchanges. The increase in spot trading and the increase in overall volume indicate the growth potential of the market. However, transparency, security and user-friendly platforms for investors are becoming more important than ever.

Leading platforms such as Binance, Bybit and OKX will have to develop different strategies to both protect their existing users and gain new users in this competitive environment. The increasing importance of spot trading requires exchanges to diversify their services in this field.

2024 has the potential to be not only a record year for centralized exchanges, but also a turning point where future growth strategies will be determined.