• Spot trading volume on CEX has reached its May 2021 high of $2.7 trillion.
• This is more than double the October figure. 
• The increase in the indicator is likely related to the rally in the crypto market.

In November 2024, spot trading volume on centralized crypto exchanges (CEXs) was $2.7 trillion, according to The Block's dashboard . This is a new all-time high since May 2021.

The figure is more than double the October 2024 figure of $1.14 trillion, compared to $4.16 trillion in May 2021.

The bulk of this comes from Binance, at $986.01 billion, followed by platforms like Crypto.com ($283.85 billion) and Upbit ($234.52 billion). 

The peak of daily trading volume in November was on the 16th. It was $126.4 billion:

The growth of the indicator in November 2024 is associated with the overall positive trend in the market. In particular, Bitcoin closed the month with an increase of 37.3%, Ethereum - 47.2%. Altcoins also showed growth at the end of November. 

Monthly trading volumes for Bitcoin and Ethereum futures hit multi-year highs in November 2024 at $2.59 trillion and $1.28 trillion, respectively.