Crypto.com’s Spot Trading Volume Soars, Surpassing Kraken and KuCoin – Can it Overtake Binance Next?
Crypto.com has experienced a surge in its spot trading volume, surpassing major competitors Kraken and KuCoin.
The platform’s impressive performance has positioned it as the 9th largest cryptocurrency exchange globally, with its spot volume accounting for over 3 percent of the global market.
This places Crypto.com on track to exceed its December 2023 spot trading volume of $31.9 billion, as it continues to gain momentum in the crypto industry.
According to data by The Block, Crypto.com has recorded a staggering $29.51 billion in spot trading volume (excluding derivatives) so far in January.
This volume is reminiscent of levels witnessed during the second quarter of 2022 and the run-up to the monumental bull run of 2021, according to a Reddit user.
It is important to note that this data is based on incomplete figures, with over a week remaining until the end of the month.
Given the exchange’s current performance and the behavior of market participants, the Reddit user anticipates that Crypto.com’s spot trading volume will comfortably exceed $33 billion by the end of January, further solidifying its position as a leading player in the industry.
“It should comfortably reach over 33b in spot volume based on the exchange’s performance and market participants’ behaviour so far.”
Meanwhile, Kraken has registered $25.38 billion in spot trading volume this month, while KuCoin has recorded $25.52 billion.
A quick update on CEX volume ▶️https://t.co/6z6fYQze38 is on track to surpass its Dec 22 spot trading volume of 31.9b (a 19-month record), beating major competitors like KuCoin and Kraken. Ranking up from spot 11, https://t.co/6z6fYQze38 is now the 9th largest crypto exchange… pic.twitter.com/2u2VmuR83Z
— Al Bert
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