Bitcoin
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In November, trading volume on the leading spot platforms monitored by ForkLog surged 22% to $689 billion despite the collapse of FTX structures. This is stated in the monthly analytical report of the magazine.
Of the total $495 billion (70%) came from Binance, which was the main beneficiary of the collapse of FTX International. Coinbase and Kraken ($61 billion and $23 billion, respectively) also improved their positions, as the US branch of the Sam Bankman-Fried exchange also closed, and local users cannot work with unregulated platforms.
Trading volume on the leading spot exchanges, $ billion. Data: The Block.
At the end of November, the total volume of assets in the accounts of centralized exchanges (CEX) decreased by 15% – over the month, the outflow exceeded 3.5 million ETH. The share of ETH locked in DeFi app smart contracts reached 26.71% (27.97% in October).
Ethereum balances on centralized exchanges and share of the ETH supply involved in smart contracts. Data: Glassnode.
Against the backdrop of a crisis of confidence in centralized services, users have again shown interest in decentralized exchanges. The non-custodial platforms tracked by ForkLog recorded the highest trading volume since June 2022 — almost $69 billion.
Uniswap increased by 58%, reaching $43 billion. Curve protocol showed a significant increase – from $3.7 billion to $14.4 billion (+280%). The volume of DODO increased from $3.7 billion to $5.2 billion (+40%).
Trading volume on decentralized Ethereum exchanges, $ billion. Data: Dune Analytics.
TVL in the L2 protocols of the Ethereum network, in ETH and $. Data: L2Beat.
Recall that in November, JPMorgan analysts concluded that the superiority of CEX over their decentralized counterparts will continue, despite the collapse of FTX.
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