In January, the combined spot and derivatives trading volume on centralised exchanges declined for the first time in four months, falling 0.72% to $4.65tn. Trading activity on centralised exchanges remained at a heightened level following the sell-off and the deleveraging of positions by traders.

Key Takeaways

• Spot trading volumes on centralised exchanges rose for the fourth consecutive month, with a 4.45% increase to $1.40 trillion.
  
• Derivatives volumes on centralised exchanges recorded a 2.79% decrease in trading volume to $3.25 trillion, marking the first reduction in four months.
  
• In January, the total derivatives trading volume on the CME rose 35.2% to $94.9bn, recording the highest volumes since October 2021.