Centralized exchanges elevated spot buying and selling volumes in October, additional demonstrating a development towards abandoning riskier derivatives markets. Exchanges additionally noticed an total improve in site visitors.
Spot buying and selling quantity on centralized exchanges elevated by 36% month-on-month in October. Spot buying and selling has grown at a sooner tempo in comparison with derivatives buying and selling. Derivatives buying and selling quantity additionally elevated, however solely by 27% over the previous month.
This intense exercise mirrored a wide range of components, together with bullish expectations for an “Uptober.” Through the October 10-11 crash, Binance and different markets additionally absorbed each retail and whale volumes very actively.
Previously Cryptopolitan reported BTC recorded the second highest month in spot buying and selling. This development has unfold to different property on the alternate as effectively.
KuCoin Leads Spot Progress, Derivatives on All Centralized Exchanges
Latest market turmoil has led to a redistribution of alternate exercise. Regardless of the general slowdown within the Korean market, KuCoin noticed a 240% improve in spot buying and selling quantity in October after a number of months of stagnation.
Bitfinex expanded spot buying and selling by 67% and Gate by 45%. The return to identify exchanges follows the current abandonment of meme platforms. Upbit, Bitget, and Bybit noticed slower spot exercise development, however nonetheless noticed some growth final month.
KuCoin derivatives development reached 185% in the identical month, Deribit expanded by 66% and Deribit expanded by 41%. Crypto.com. Regardless of a powerful begin, Binance expanded its derivatives buying and selling quantity by 26%. Latest volumes embrace suspected wash trades and bot-generated volumes.
Total, site visitors was redirected to Gate, Bitfinex, and Upbit, whereas HTX misplaced 32% of its entry over the previous month. The rise in exercise additionally mirrored an uncommon rush to exchanges throughout the October 10-11 clearing interval.
Throughout that point, some markets turned inaccessible and others obtained complaints about opaque liquidation. Centralized exchanges absorbed inflows from each whale wallets and short-term retailers. Along with internet utilization and buying and selling volumes, exchanges have additionally seen a rise in stablecoin deposits and BTC actions from exterior wallets.
DEX exercise has peaked over the previous month
The ratio of DEX to CEX remained unchanged, with each varieties of exchanges recording important development in October.
Greater than 19% of all alternate exercise takes place in decentralized markets. In October, complete DEX exercise exceeded $614 billion. This development continued in November, with every day buying and selling quantity now exceeding $14 billion.
DEX exercise additionally elevated in October, with a mixture of spot and perpetual DEX buying and selling. |Supply: DeFi Llama
Solana is among the main chains, with DEX buying and selling quantity exceeding $148 billion final month. The chain outperformed Ethereum’s outcomes at practically $143 billion.
DEX exercise remained excessive in 2025, primarily resulting from improved retail adoption and integration. Whereas meme token buying and selling has slowed down, DEXs have been a key element for exchanging ETH for altcoins and wrapped BTC.
The rise in CEX and DEX exercise confirmed that the inner exercise of the crypto market is excessive resulting from document stablecoin provide. Whereas exterior inflows have slowed, crypto markets now have extra instruments to maneuver inside liquidity to new varieties of tasks and platforms.
