Chain News Daily Official TheBitTimes.com

Author: WuBlockchain In December, major exchanges recorded a 14% increase in spot trading volume, with Bitget leading at 102% growth, and a 6% rise in derivatives trading volume, where Gate saw the largest increase at 111%. Spot trading volumes increased by 139% compared to 2023. Crypto.com saw the highest growth at 960%, followed by Bybit at 392% and Gate at 244%. On the lower end, BitMart grew by 78%, Upbit by 83%, and Binance by 92%. Derivatives trading volumes rose by 91% year-over-year. The largest increases were seen at Crypto.com (930%), Bitget (209%), and Mexc (172%), while KuCoin grew by only 10%, Binance by 48%, and HTX by 65%. Website traffic for exchanges grew by 22% in 2024 compared to 2023. The highest growth was seen at Bitget (103%), Mexc (57%), and Bybit (54%). Meanwhile, HTX traffic dropped significantly by 99%, Bitfinex by 56%, and Deribit by 10%. A noteworthy trend is that Binance’s leading monopoly advantage will shrink in 2024 compared to 2023, with the spot marke...

Over 1.7 billion Shiba Inu tokens (SHIB) were burned in the final week of 2024, raising questions about the meme coin’s future in 2025. SHIB recorded mild incineration in a notable move just before 2024 came to a close. The project saw over 1.7 million SHIB tokens taken out of circulation in a massive burn. At press time, SHIB is trading at $0.00002124, down 33% in the past 30 days. In light of this downturn to close out 2024, Data from Shibburn reveals that the Shiba Inu burn rate soared by 243.34% in the last 24 hours. Specifically, 1,717,872 SHIB tokens were sent to dead wallets on the network. The burning of Shiba Inu tokens is an often-measured statistic when understanding the asset’s price and circulating supply. The burning of SHIB tokens is done to keep a strong hold on value by manipulating how much SHIB there is at a given time. With the token’s price down in December, the burning of over 1.7M SHIB is likely to spark a rally for the start of 2025. Shiba Inu ...