Global Crypto Spot Trading Volume Falls to $1.59 Trillion in November

Global cryptocurrency spot and DEX volumes declined sharply in November, with Bitcoin prices falling and U.S. ETFs seeing significant outflows, underscoring weaker market sentiment.

BTC

Fact Check
The assessment is based on two highly authoritative and perfectly relevant primary sources that directly corroborate the statement. A data dashboard from The Block, a reputable crypto research firm, is specifically designed to track monthly spot exchange volume. A news article from the same outlet explicitly states that the crypto spot volume was $1.59 trillion in November, citing their own data. These two sources, with authority ratings of 0.95 and 0.85 and relevance scores of 1.00, provide strong, consistent, and direct evidence supporting the claim. Other sources are either less relevant or completely irrelevant. The Statista source provides a daily snapshot rather than a monthly total, making it contextually relevant but insufficient to verify the claim on its own. The sources concerning ETFs, a single exchange (Binance), and soybeans are correctly identified as having low to no relevance. Crucially, there is no conflicting evidence from any of the provided sources. The convergence of high-quality evidence from a specialized data provider makes the statement highly likely to be true.
Summary

Global cryptocurrency spot trading volume fell 26.7% in November to $1.59 trillion, the lowest since June. Binance led with $599.34 billion, down from $810.44 billion in October. Decentralized exchange volume dropped to $397.78 billion. Bitcoin’s price declined to $86,500 during the month. U.S. spot Bitcoin ETFs posted net outflows of $3.48 billion, signaling reduced investor confidence.

Terms & Concepts
  • Decentralized Exchange (DEX): A blockchain-based trading platform that allows users to transact directly without intermediaries.
  • Exchange-Traded Fund (ETF): An investment fund traded on stock exchanges that can track assets such as cryptocurrencies.