TechFlow, Dec. 1 — According to The Block, cryptocurrency market trading volume shrank significantly in November, with centralized exchanges' monthly trading volume dropping to $1.59 trillion, a 26.7% decline from October and the lowest level since June. Trading volume on decentralized exchanges also fell to $397.78 billion.
Binance maintained its market leadership but saw its trading volume decrease from $810.44 billion in October to $599.34 billion. Meanwhile, Bitcoin's price dropped from around $110,000 at the beginning of the month to $86,500 by month-end, and U.S. spot Bitcoin ETFs recorded $34.8 billion in net outflows—the largest single-month outflow since February this year.
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