Total Cryptocurrency Transaction Volume Reached 80 Trillion USD in the Last 12 Months

According to a series of reviews of exchanges by CCData, over the past year, the total trading volume on centralized cryptocurrency exchanges has risen to 80 trillion dollars. This milestone records combined activity from both the spot market and the derivatives market, highlighting a year of significant cyclical volatility, the structural dominance of perpetual contracts, and new, higher volatility benchmarks. Volume mode: The story of two halves The 12-month chart clearly divides into two trading modes: Summer-Fall 2024: Trading volume sharply decreased to 4-5 trillion dollars/month amid volatile drought conditions. Notably, September 2024 marked the lowest point of the year at 4.34 trillion dollars, reflecting market depletion and pessimistic sentiment. Winter 2024–Spring 2025: A strong rally lifted volume to a peak of 11.3 trillion dollars in December, driven by optimism surrounding the U.S. elections and the approval of the Ethereum ETF. Since then, volume has eased but remains high, fluctuating around 6.8 trillion dollars in both March and April 2025. This regime change indicates that the market is increasingly reacting more quickly to macroeconomic political events and the money flow driven by ETFs, escaping the sluggish state with low trading volume in mid-2024.

Derivatives products: Still dominant A persistent theme throughout the year is the structural dominance of derivative products: Even at the peak of December, derivatives accounted for 67% of total revenue, emphasizing the dominance of perpetual futures and leveraged products over market structure. Data shows that institutional traders and speculators, attracted by high leverage strategies, remain the main liquidity drivers despite ongoing regulatory backlash. The cooldown time is still high. While the April 2025 straight line at $6.79 trillion shows a cooling off after the Q4 frenzy, it is noteworthy that this figure still represents a rise of ~30% compared to the mid-2024 bottom. In other words, the market seems to have reset to a higher baseline. Moreover, after four months of decline, the first rise in derivatives trading volume in April indicates that leverage demand may be stabilizing, potentially setting the stage for a new wave of speculation. Finally The title of 80 trillion dollars hides a complex and divided market story: The gloomy situation until mid-2024 gave way to a booming Q4, and the volume has normalized at a structurally higher level. The derivatives market continues to lead, and the spot trading volume is increasingly reacting strongly to catalysts such as ETF approvals and macro-political changes. This new regime could shape the landscape for 2025, unless new volatility shakes the system once again.