Q3 centralized exchange spot trading volume up 31%

Son Min

Summary

Reported that Q3 centralized exchange spot trading volume increased 30.6% compared to the previous quarter.
Bitcoin's uptrend revived investor sentiment, and it said perpetual futures trading accounts for the majority of the market.
Binance maintained market leadership with a 43% share of spot trading and a 31.3% share of derivatives.

Spot trading of virtual assets (cryptocurrency) on centralized exchanges (CEX), which plunged in the first half of this year, rebounded more than 30% in Q3. The continued Bitcoin uptrend is analyzed to have revived investor sentiment.

On the 25th (local time), Cointelegraph reported that TokenInsight said in a report, "The total spot trading volume of the top 10 centralized exchanges in Q3 was $4.7 trillion, a 30.6% increase compared to the previous quarter." This suggests that volumes that had sharply fallen in the first half have returned to a clear recovery.

Meanwhile, perpetual futures trading still accounted for the majority of the centralized exchange market. Q3 futures volume rose about 29% from $20.2 trillion in Q2 to $26 trillion.

Binance maintained its position as the market leader in Q3, accounting for about 43% of total spot trading. Competitors MEXC and Bybit were each around 9%. Binance's share in the derivatives market also rose to 31.3% as of September. OKX and Bybit saw slight declines in share but remained second and third, respectively.