Exchange Review

CryptoCompare’s monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

  • February 8, 2023
Report cover

Exchange Review

CryptoCompare’s monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

  • February 8, 2023

Report Summary

In January, crypto markets reversed their downward trend with Bitcoin and Ethereum rising 39.9% and 32.7% to $23,130 and $1,585, respectively. Market participants have begun to take on more risk as the macroeconomic environment improves with lower inflation and a slowdown of interest rate hikes.

January Highlights

  • January saw a significant increase in trading activity, with spot volumes rising 57.9% to $860bn.
  • CME’s Bitcoin options trading saw a staggering 278% increase in USD-volumes, reaching $851mn. This is the highest level recorded since we began to collate this data in February 2021.
  • Bybit surpassed OKX volumes for the first time in its history, thereby becoming the second largest derivatives exchange by trading volume.
Download Report

More Featured Reports

Exchange Review February 2026
Combined spot and derivatives trading volumes on centralized exchanges declined 2.41% to $5.61T, marking the lowest level of activity since October 2024.
  • March 11, 2026
Read more
Exchange Review January 2026
Trading activity on centralized exchanges rebounded in January as total combined spot and derivatives trading volumes climbed 2.43% to $5.95 trillion.
  • February 16, 2026
Read more
Stablecoins & Tokenized Assets Report January 2026
CoinDesk Data’s Stablecoins & Tokenized Assets Report captures the key developments across the stablecoins and tokenization landscape. Our review focuses on market capitalization and trading volume trends for stablecoins, segmented by collateral type and pegged asset, alongside coverage of tokenized real-world assets; including commodities, equities, and treasuries.
  • February 10, 2026
Read more
Stablecoins & CBDCs Report - December 2025
The total stablecoin market resumed its upward trajectory after declining for the first time in 26 months in November, rising 1.25% to $310B. 
  • January 16, 2026
Read more

Subscribe to Our Newsletter

Get our latest research, reports and event news delivered straight to your inbox.