The crypto market witnessed a dramatic resurgence in November, with a significant increase in trading activity across major exchanges and a record-breaking market valuation.
Crypto spot trading volumes surged 141% in November, with centralized exchanges such as Binance, Coinbase, and Kraken seeing a sharp uptick in activity. South Korea’s Upbit led the charge with a 386% rise in spot trading volume, followed by BitMart and Bitfinex, which recorded 242% and 218% growth, respectively. Binance alone handled nearly $1 trillion in trading, marking a 131% increase, while Coinbase saw a 189% jump in user engagement.
Derivatives Markets Heat Up
Professional traders and speculators increasingly turned to derivatives, with trading volumes in perpetual contracts tripling on platforms like MEXC, Kraken, and Deribit. Derivatives, linked to the value of other assets, drew heightened interest amid the bullish market sentiment following the U.S. general elections.
Retail Demand Returns
Renewed interest from retail investors was evident, as website traffic for major exchanges like Crypto.com, Coinbase, and Upbit rose by over 82%. This influx of users contributed to increased trading volumes and highlighted a broader market recovery.
Crypto Market Hits Record Valuation
The total cryptocurrency market capitalization soared past $3.2 trillion for the first time, with Bitcoin breaking into the six-figure price range and overtaking traditional assets like silver. Major cryptocurrencies, including Ethereum, Solana, and Ripple, saw significant capital inflows. Stablecoins also gained traction, with the circulating supply surpassing $200 billion, driven by demand for fiat-pegged tokens issued by firms like Tether and Circle.
Despite profit-taking following Bitcoin’s new all-time high in early December, the total crypto market stabilized around $3.6 trillion, signaling robust recovery and sustained bullish momentum.
The crypto resurgence in November underscores growing confidence in digital assets, fueled by increased retail and institutional participation.
