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Binance saw its trading volume boosted by FTX’s collapse in November 2022. Since then, its market share has shrunk, falling 20% through November 2023, according to CCData. The loss was worsened by the DOJ’s indictment against former CEO Changpeng Zhao.

Last month Tether, the company behind the largest stablecoin, signed up the US Department of Justice, Federal Bureau of Investigation and the US Secret Service to help prevent illicit use of its USDT token. Unsurprisingly the number of blacklisted Tether wallets has shot higher. Total numbers of banned wallets are up 20 per cent to 1,236 so far this month, according to CCData.

The SOL token, which serves as the native digital asset of the high-performance blockchain platform Solana, reached $76.06 last night.

At this point, it had climbed over 17% since falling to as little as $64.91 the day before, additional CoinMarketCap data shows.

When explaining these latest upward price movements, analysts emphasized that numerous variables had helped produce these gains.

“This recent rally can be attributed to a confluence of factors, including the growing usage of Solana's network, increased interest from institutional investors, and a maturing ecosystem, which has seen DEX volumes reach all-time highs as well as an influx of stablecoin deposits,” Jacob Joseph, Research Analyst at CCData, wrote via comments sent through email.

According to numbers provided by CCData, it would have taken 1,418 bitcoins to move the price of the token by 1 per cent at the start of the year. At the end of April that number dropped to just 462 bitcoins. Latest figures show it would take only 386 bitcoins to have the same impact today.

Based on CCData’s Q4 2023 Market Outlook Report, the BTC rally has created a significant impact on CBDCs, derivatives, RWAs.

Volume in spot markets on OKX jumped to more than $71bn last month, more than double October’s $33bn, and a height not seen since May 2022, CCData said. OKX’s monthly derivatives volume also leapt to $659bn in November, up from $429bn in October.

While Binance globally remains the biggest platform for buying and selling digital assets as well as crypto derivatives, its dominance is waning. The exchange’s share of spot trading volumes slid to 32% in November from 55% at the start of 2023, according to CCData. Its derivatives market share declined to 48% from more than 60%.

While Binance remains by far the biggest platform for buying and selling digital assets as well as crypto derivatives, its dominance is waning. The exchange’s share of spot trading volumes slid to 32% in November from 55% at the start of 2023, according to CCData. Its derivatives market share declined to 48% from more than 60%.

Delving deeper into the options market, traders are loading up on bets that the coin will surge to $50,000 by January, according to data compiled by Deribit, the largest crypto options exchange. Combined spot and derivatives trading volume on centralized exchanges rose 40.7% in November, to $3.61 trillion, the highest combined total since March, according to researcher CCData.

Combined spot and derivatives trading volume on centralized exchanges rose 40.7% in November, to $3.61 trillion, the highest combined total since March, according to researcher CCData.