in November cryptocurrency marketTransaction volumes decreased sharply. CryptoAppsy According to data, monthly spot transaction volume on central exchanges decreased to 1.59 trillion dollars, the lowest level since June. The volume, which was 2.17 trillion dollars in October, thus decreased by 26.7 percent on a monthly basis.
There is a Significant Decline in Central Stock Exchanges
The decline in market volume, especially Binance It was felt more clearly in big players like. Binance maintained its leadership in November with $599.34 billion in trading volume, but this figure represents a significant decrease compared to October’s $810.44 billion. followed by 105.8 billion dollars Bybitwith 96.75 billion dollars gate.io and with $93.41 billion coinbase watched.
CIO of Kronos Research Vincent Liucommented on the decrease in volume and evaluated it as “the tightening of trading conditions due to profit taking and the extinction of volatility following the rally in October.” The decrease in market activity caused investors to narrow their positions and weaken liquidity.
The decline in November was parallel to the decline in cryptocurrency prices. Bitcoin 
$86,219.53 While it was at $110,000 at the beginning of the month, it dropped to around $81,000 on November 21. The largest cryptocurrency, traded at $ 86,500 at the end of the month, lost 4.6 percent in value in just the last 24 hours.
DEX Volumes Also Dropped
The volume decrease in decentralized exchanges (DEX) was also sharp during the month. According to DefiLlama data, DEX transaction volume decreased from $568.43 billion in October to $397.78 billion. Uniswap It recorded the highest volume with $79.98 billion, followed by $70.57 billion. PancakeSwap followed. The figures reveal that the DEX market has also fallen to its weakest level since June.
The ratio of the total volume of DEXs to central exchanges decreased from 17.56 percent to 15.73 percent. According to Liu, this decline was due to the effect of market structure rather than investor psychology. In narrow trading ranges where liquidity decreased, investors preferred central exchanges due to their depth and spread advantage.
ETF There was also a weakening in the market. There was a net outflow of $3.48 billion from spot Bitcoin ETFs in the US in November. An inflow of $3.42 billion was recorded in October. The largest monthly outflow since February 2025 also indicates that corporate appetite has decreased.
