Exchange Review December 2025

Trading activity on centralized exchanges dropped to its lowest level since October 2024,with combined spot and derivatives volumes falling 26.4% to $5.79T. 

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Exchange Review December 2025

Trading activity on centralized exchanges dropped to its lowest level since October 2024,with combined spot and derivatives volumes falling 26.4% to $5.79T. 

Report Summary

  • Trading activity on centralized exchanges dropped to its lowest level since October 2024,with combined spot and derivatives volumes falling 26.4% to $5.79T. 
  • In 2025, HTX recorded the largest gain in spot market share among centralized exchanges, rising 2.99% to 5.27%. 
  • Binance’s spot trading volume fell 38.8% to $367B, marking its lowest monthly total since September 2024.

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