Crypto exchange trade volume broke all records in January, crossed $900 billion mark
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Spot trading volume on cryptocurrency exchanges has crossed all previous records to reach over $900 billion in January, according to data compiled by The Block.
Of the total about $906 billion, Binance accounted for almost 60% share, or about $518 billion. Coinbase and institutional spot exchange LMAX Digital followed Binance, with about $118 billion and around $61 billion in trade volume, respectively.
As compared to December's volumes, January's trading volumes are up by about 140%.
Last year, the total volume for 2020 across legitimate crypto exchanges exceeded $1 trillion, to reach roughly $1.82 trillion.
Correction: The story has been updated to mention that LMAX ranks third, and not Kraken.
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Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.
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