November witnessed a remarkable surge in crypto trading, driven by renewed investor enthusiasm following the U.S. general elections. Centralised exchanges and derivatives platforms reported record-breaking growth, signaling a bullish shift in the market.

Spot Trading Volume Soars

Crypto spot trading volume surged by 141% in November, with South Korea’s Upbit leading the charge with a staggering 386% increase. BitMart and Bitfinex followed closely, recording growth of 242% and 218%, respectively. Binance, the largest crypto exchange, saw its trading volume jump 131% to nearly $1 trillion. Meanwhile, Coinbase tripled its activity, with a 189% spike in user engagement.

Professional traders and speculators flocked to derivatives, driving a threefold increase in perpetual contract trading on platforms like MEXC, Kraken, and Deribit. Derivatives, financial products linked to other assets, attracted substantial capital as investors sought higher returns amid rising market confidence.

Retail Interest Returns

Retail demand also surged, as reflected in website traffic spikes for exchanges such as Crypto.com, Coinbase, and Upbit, each witnessing increases of over 82%. Stablecoin circulating supply crossed $200 billion, fueled by growing demand for fiat-pegged tokens like Tether and Circle’s USD Coin.

Crypto Market Reaches New Highs

The total cryptocurrency market capitalization surpassed $3.2 trillion in November, later settling at $3.6 trillion amid broad recoveries. Bitcoin reached an all-time high, breaking into the six-figure range and surpassing legacy assets like silver in market value. Other major cryptocurrencies, including Ethereum, Solana, and Ripple, also benefited from the renewed optimism.

The post-election surge underscored growing confidence in digital assets as investors embraced the sector’s long-term potential.