Over the course of 2024, the total spot trading volume on centralized exchanges (CEX) surged by 139%, according to a year-end report from WuBlockchain.

In 2023, the figure was about $7.68 billion, while 2024 reached $18.38 billion.

Top Gainers

Crypto.com showed the strongest growth at 960%.
Bybit ranked second at 392%.
Gate placed third at 244%.

Overall trading volume in crypto derivatives markets increased by 91%, climbing from $27.85 billion to $53.24 billion.

During the same period, combined traffic to centralized cryptocurrency exchanges grew by 22%.

According to WuBlockchain, Binance’s dominant market share declined in 2024:

Spot market share fell from 49% to 39%.
Derivatives market share dropped from 50% to 38%.

Bybit became the second-largest spot exchange; Crypto.com secured third place.

Decentralized Exchanges
The DEX sector also posted gains. In December 2024, the aggregate monthly trading volume reached a record $463 billion, with Uniswap taking the lead at $106.4 billion, followed by Pancake Swap at $96.4 billion and Raydium at $58 billion.

Context