November crypto spot volume hits lowest level since June at $1.59T

Cryptocurrency exchange spot trading volume fell to $1.59 trillion last month, its lowest level since June, The Block reported. The figure represents a 26.7% decrease from October's $2.17 trillion. Among centralized exchanges, Binance saw its volume drop by approximately 26% to $599.3 billion from $810.4 billion in October. Vincent Liu, CIO of Kronos Research, explained that as the market stagnated in November, volatility disappeared and upward momentum slowed. He attributed the decline to profit-taking and reduced liquidity following a recent rally, describing it as a typical pattern of a market cooling down after overheating.