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ETF Surge Fuels $1.1T Trading Boost: Propelling Bitcoin, Ether, Solana, Cardano, XRP Rise

In December 2023, spot trading volume in the cryptocurrency market surged past $1 trillion, breaking records and signaling a potential boost from the approval of a spot Bitcoin ETF by the SEC. Binance led the market with 39.3% of the volume, followed by Upbit and OKX. Regulatory decisions hold significant power over the crypto market, with the potential approval of the ETF expected to impact Bitcoin, Ether, Solana, Cardano, and XRP markets.

by John Darbie
Thu, Jan 4, 2024 11:50pm
in Bitcoin
• 3 mins read
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ETF Surge Fuels .1T Trading Boost: Propelling Bitcoin, Ether, Solana, Cardano, XRP Rise | FinOracle

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Surge in Spot Trading Volume Reaches $1.1 Trillion, Breaks Records

In December 2023, the cryptocurrency market witnessed an unprecedented surge in spot trading, surpassing the $1 trillion mark for the first time in over a year. Data compiled by The Block revealed that the total spot trading volume across exchanges reached an astounding $1.1 trillion, marking a substantial resurgence from previous months. This surge was notably higher than the last recorded instance in September 2022, when the trading volume hit $1.03 trillion. December’s figures showcased a remarkable rebound and set a new monthly record since May 2022 when trading volume peaked at $1.35 trillion.

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