In November 2025, the cryptocurrency market showed a significant decrease in activity: the total spot trading volume on major exchanges fell by 28% compared to the previous month. This marked one of the largest monthly declines of the current year.
This is reported by Business • Media
Trends Across Key Trading Platforms
Among major platforms, only Bitfinex recorded an increase in trading volume – the exchange showed a growth of 17%. In contrast, platforms such as Bitget, Gate, and MEXC faced the worst results: their volumes decreased by 62%, 44%, and 34% respectively. Meanwhile, Coinbase and KuCoin experienced the smallest losses – their volumes shrank by 8% and 17% respectively.
“In November 2025, cryptocurrency exchanges reported a noticeable decline in trading volumes. According to WuBlockchain data, total spot activity on the platforms decreased by 28% compared to October.”
Derivatives and Web Traffic: November Trends
In addition to the spot market, trading volumes for derivatives also fell – by 16% month-over-month. Despite this, the MEXC exchange managed to increase its contract volume by 67%. The situation was less optimistic on other platforms: KuCoin and HTX limited their declines to 15%, while Bitget, Bybit, and Gate lost 49%, 29%, and 28% respectively.
Web traffic on major cryptocurrency platforms fell by 11% over the month. Among the leaders were BitMart (traffic increase of 14%), Kraken (only a 1% decrease), and Bitfinex (down 5%). The largest losses in users were seen by Crypto.com (down 26%), Gate (down 23%), and KuCoin (down 18%).
Interestingly, the largest share of traffic from Ukraine went to the Bybit exchange – about 7% of its total volume. On other platforms, the presence of Ukrainian users was not significant.
It is worth noting that in November, Bitcoin and Ethereum closed the month with the lowest decline since 2018.