In November, the crypto markets fell significantly after the collapse of one of its largest centralised exchanges, FTX. This resulted in a market wide sell-off, with Bitcoin falling 16.3% to $16,978. As a result, trading activity across centralised exchanges rose sharply, with spot and derivatives trading volume increasing by 13.7% and 10.1%, respectively in November.

November Highlights

• Spot and derivatives trading on centralised exchanges rose 13.7% and 10.1% to $1.06tn and $1.44tn, respectively.
• Total derivatives trading volume hit $297bn on November 8th, recording the second largest derivatives trading day in digital asset history, only next to May 19th 2021.
• Binance has increased its market share to 52.9% - its largest-ever market dominance.
• BTC Netflows Record Largest Outflows from Exchanges in its history with a netflow of -91,363 Following FTX Collapse.

*Updated 15/12/2022