Bitcoin ETF

Bitcoin

Spot

Trillion

Source: Adobe 
The monthly spot trading volume on crypto exchanges exceeded $1 trillion in December 2023, marking the first time this significant volume level has been surpassed in over a year. 
According to data from compiled by <a href="https://www.theblock.co/post/269991/crypto-exchange-volume-cracks-1-trillion-for-first-time-since-late-2022">The Block</a>, the total exchange volume for the month reached a whopping $1.1 trillion. 
The last instance of monthly spot trading volume surpassing the $1 trillion mark occurred in September 2022, with a total volume of $1.03 trillion, the data showed. 
The latest figures for December 2023 not only represent a notable resurgence but also set a new monthly record since May 2022 when trading volume peaked at $1.35 trillion. 
As usual, the crypto exchange responsible for the most trading volume was Binance, contributing 39.3% of the December’s total volume. 
In US dollar terms, Binance’s share of the volume equaled $432.7 billion. 
South Korea-based crypto exchange Upbit secured the second position with an 8.3% share, amounting to $91.8 billion, followed closely by OKX at 8%, totaling $87.5 billion. 
Binance has long dominated the rankings as the largest spot crypto exchange by trading volume, but has seen its market share drop as <a href="https://cryptonews.com/news/crypto-markets-chop-as-reports-emerge-that-us-doj-wants-4-billion-from-binance-to-settle-yearlong-investigation-heres-the-latest.htm">regulatory scrutiny of the exchange</a> has intensified. 
At the same time, <a href="https://cryptonews.com/news/okx-and-bybit-capitalize-as-binances-market-share-declines-more-news.htm">Upbit and OKX have both seen their market share increase</a>. Source: CoinGecko 
The surge in trading activity coincides with heightened anticipation surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC), <a href="https://cryptonews.com/news/bitcoin-etf-countdown-secs-decisive-december-deadline-heres-the-latest.htm">potentially as early as January 10</a>.

Record $1.1 Trillion in Crypto Exchange Volume Driven by Spot Bitcoin ETF Anticipation

Cryptonews.com

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