Cryptocurrency Trading Volume Hits 5-Month Low in November, Bitcoin ETF Sees Significant Outflows

BlockBeats News, December 1st, according to The Block, the cryptocurrency market's November trading volume saw a significant shrinkage, with CEX monthly trading volume dropping to $1.59 trillion, a 26.7% decrease from October, hitting the lowest level since June. Binance still maintains its market-leading position, but its trading volume dropped from $810.44 billion in October to $599.34 billion. DEX trading volume similarly decreased to $397.78 billion.

Meanwhile, the Bitcoin price fell from around $110,000 at the beginning of the month to $86,500 at the end of the month, and the U.S. Bitcoin spot ETF saw a net outflow of $3.48 billion, the largest monthly outflow since February of this year.