November saw unprecedented trading volumes on centralized cryptocurrency exchanges (CEXs), surpassing $10 trillion in spot and derivatives markets, as reported by CCData. This milestone marks the first time monthly trading volumes have exceeded this threshold, exhibiting a rise of over 100% from the previous month. The report attributes this surge to a shift in market sentiment due to a new regulatory environment anticipated under the incoming administration. Spot trading volumes alone increased by nearly 130%, reaching over $3.4 trillion, with various exchanges like Upbit and Bybit setting their all-time highs. Meanwhile, crypto derivatives experienced a substantial month-over-month increase of nearly 90%, amounting to almost $7 trillion. Notably, the approval of Bitcoin exchange-traded fund options by the SEC is expected to further boost derivatives trading. The rapid rise in trading activity reflects growing investor interest and optimism in the cryptocurrency market after recent political developments.

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