Amidst a challenging backdrop where the crypto spot market witnessed its lowest activity levels in over four years, the downturn created a daunting scenario for centralized exchanges and market makers, exacerbated by the collapse of Sam Bankman-Fried’s FTX in November 2022.
This incident had a profound impact on investor trust in centralized entities, casting a shadow on the overall market depth. December 2023, however, brought about a notable shift in sentiment. In Q4 2023, centralized exchanges registered a spot volume of $2.99 trillion, marking a 125% rise from the levels observed in the preceding quarter.
Centralized Exchanges See Turnaround in Spot Volumes
According to CCData’s latest Exchange Review report, the overall trading activity in the spot market witnessed a substantial increase of 34.0%, reaching $1.34 trillion in December. This marked the peak monthly spot trading volumes for the entire year of 2023. Notably, it marked the third consecutive monthly rise in spot trad
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