In December, spot trading volume on major CEXs decreased by 35% month-on-month, while contract trading volume decreased by 26%.
TL;DR
December 2025 saw a 35% drop in spot trading and 26% decline in contract volume on major CEXs, with exchanges like Binance and Upbit hit hardest. Perp DEX volume fell 30%, and website traffic decreased by 20%.
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According to BlockBeats data, spot trading volume on major centralized exchanges (CEXs) in December 2025 decreased by 35% compared to November. Among them, HTX (-16.48%), Bybit (-16.67%), and Bitget (-16.98%) saw relatively smaller declines in trading volume. Kucoin (-39.85%), Binance (-40.85%), and Upbit (-43.75%) were significantly affected by the current market downturn.
Perpetual contract trading volume decreased by 26% compared to November, with Bybit (-29.40%), Crypto.com (-29.93%) and Kucoin (-40.11%) being the most affected by the sluggish market.
In addition, perpetual contract trading volume on the mainstream Perp DEX decreased by 30% in December compared to November, and website traffic decreased by 20% compared to November.
Detailed data has been published on the site in " December Trading Platform Ranking: CEX and DEX Both Weaken, On-Chain Perpetual Contract Trading Volume Declines by 30% ".