Spot Trading Hits $1.4 Trillion, ETF Approval Fuels Growth! Spot trading volumes are soaring, with a 4.45% rise to
$1.4 trillion in January, marking the fourth consecutive month of gains for centralized exchanges.
The catalyst behind this surge? The United States SEC's green light for a
Bitcoin ETF, attracting institutional investors and igniting trader interest.
It's a different story for derivatives, though, as trading drops 2.79% to
$3.25 trillion, hitting its lowest point since February 2023.
Binance maintains its lead with a 31.3% market share, clocking in at
$437 billion in spot trading volumes. However, OKX slips to 7.81%, while Coinbase makes gains at 5.42%.
As the crypto market recovers from the bearish 2022, the approval anticipation in 2023 has set spot trading on an upward trajectory.
