Centralized Crypto Exchanges Saw Over $14 Trillion in Trading Volume this Year

Centralized crypto exchanges, which hold customers’ private keys unlike decentralized exchanges, reported more than $14 trillion in trading volume in the year 2021, according to The Block Research. From the report:

That figure is a massive 689% increase compared to 2020 trading volumes, based on data as of December 24. Last year, centralized crypto exchanges facilitated over $1.8 trillion in trading volumes. All these numbers are from The Block’s Legitimate Index, which takes volume data from the largest exchanges that are known to be reporting volumes more accurately. Binance continues to dominate the centralized crypto exchange market. It facilitated 67% of total volumes this year, i.e., over $9.5 trillion, according to The Block Research.

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That’s not that surprising. When I worked in forex we’d perform thousands of trades per hour sometimes, each worth thousands but with very low profit margins. The is why in any form of trading, total volume doesn’t really mean much.

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