Major centralized crypto exchanges experienced a significant decrease in spot trading volume in January 2025 compared to December 2024. The top three exchanges with the highest rate of decline were HTX, Kraken, and Bybit. Binance recorded the largest spot trading volume in both months. When it comes to derivative trading volume, there was a 17% decline month-over-month. Gate, Mexc, and Deribit were the top three in terms of change rate, while Binance, Kraken, and Bybit had the lowest change rates. Futures trading volume also decreased, with Binance having the largest decline. OKX and Bybit followed closely behind. KuCoin had the highest rate of decline, while Gate was the only exchange with a positive change rate. Website traffic on these exchanges also dropped in January, with Gate, Crypto.com, and Mexc having the highest positive change rates, and HTX and OKX having the highest negative change rates. Binance had the most website traffic, followed by Coinbase.



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