Crypto exchange trade volume broke all records in January, crossed $900 billion mark

Spot trading volume on cryptocurrency exchanges has crossed all previous records to reach over $900 billion in January, according to data compiled by The Block.

Of the total about $906 billion, Binance accounted for almost 60% share, or about $518 billion. Coinbase and institutional spot exchange LMAX Digital followed Binance, with about $118 billion and around $61 billion in trade volume, respectively.

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As compared to December's volumes, January's trading volumes are up by about 140%.

Last year, the total volume for 2020 across legitimate crypto exchanges exceeded $1 trillion, to reach roughly $1.82 trillion.

Correction: The story has been updated to mention that LMAX ranks third, and not Kraken.