Major exchange spot volume rose 10% in January

Spot trading volume on major exchanges rose by approximately 10% month-over-month in January, reaching a total of about $1.1926 trillion, according to Wu Blockchain. Binance led the market with $365 billion in volume, while South Korean exchange Upbit ranked 12th with approximately $35.9 billion. The top three exchanges by month-over-month growth were Uniswap (+84%), Bitfinex (+70%), and Upbit (+44%). Meanwhile, derivatives trading volume on major exchanges decreased by about 5% from the previous month to $5.562 trillion.