December Exchange Rankings: CEX and DEX Simultaneously Weaken, On-Chain Perpetual Contract Trading Volume Down 30%

According to BlockBeats data:

By December 2025, the spot trading volume of mainstream CEXs had decreased by 35% compared to November. The top three in terms of change rate were HTX -16.48%, Bybit -16.67%, and Bitget -16.98%. The bottom three were Kucoin -39.85%, Binance -40.85%, and Upbit -43.75%.

In December, the perpetual contract trading volume of mainstream CEXs decreased by 26% compared to November. The top three in terms of change rate were HTX -7.21%, Kraken -7.69%, and Bitget -20.73%. The bottom three were Bybit -29.40%, Crypto.com -29.93%, and Kucoin -40.11%.

In December, the website traffic of mainstream CEXs decreased by 11% compared to November. The top three in terms of change rate were OKX 11.37%, Bitget 7.43%, and Bybit 5.68%. The bottom three were Coinbase -13.64%, -Upbit 20.46%, and HTX -75.29%.

In December, the website download volume of mainstream CEXs decreased by 3.5% compared to November. The top three in terms of change rate were Bybit 20%, OKX 11.46%, HTX -3.15%. The bottom three were Upbit -16.81%, Kraken -16.88%, and Coinbase -19.81%.

In December, the perpetual contract trading volume of mainstream Perp DEXs decreased by 30% compared to November, and website traffic decreased by 20%.

Note: Some data may have serious wash trading / bot suspicion. Spot and derivative data are from Coingecko; traffic data is from Similarweb; download data is from the Dot platform.