Centralized crypto exchanges saw over $14 trillion in trading volume this year
December 24, 2021, 10:40AM EST
1 min read
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.
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.
Both centralized and decentralized exchanges saw a huge growth in their trading volumes this year. As The Block reported yesterday, decentralized exchanges saw more than $1 trillion in trading volumes in 2021, representing enormous 858% growth compared to their 2020 trading volumes.
TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.