In December 2024, the cryptocurrency market saw a lot of trading activity even though prices went down. Bitcoin and Ether hit new record highs, with Bitcoin going over $100,000 and Ether above $3,800, increasing investor confidence. As the year wrapped up, the market showed some price drops, hinting at a possible bigger bull run next year.
Decentralized exchanges (DEXs) reached high trading volumes, with total monthly trading exceeding $320.5 billion. Uniswap topped the list with more than $105 billion, while PancakeSwap and Raydium followed, with Raydium seeing impressive growth at over $56 billion in volume.
Centralized exchanges (CEXs) saw more trading, with total spot trading volume reaching over $2.8 trillion in December, up from $2.71 trillion in November. Binance led the market with about $961 billion in spot trading volume, with other big exchanges like Crypto.com and Coinbase following.
Trading volumes are going up in both DEXs and CEXs, showing that more investors are getting involved. This could lead to a strong market in the new year, even with the current price changes.
