Cryptocurrency spot trading volumes experienced a significant rebound in January 2026, climbing 10.3% month-over-month to reach $931.80 billion, up from $844.84 billion in December 2025. This growth was driven by strong performance across both centralized and decentralized exchanges, with Uniswap leading the charge among decentralized venues.
Decentralized exchange Uniswap recorded a remarkable 62.0% jump in spot volume, reaching $38.84 billion, making it one of the fastest-growing spot venues for the month. Among centralized exchanges, Bitfinex showed the strongest percentage growth with a 66.8% increase, though specific volume figures weren't provided in the dataset.
Major centralized exchanges demonstrated broad gains. Binance maintained its dominant market position with spot volume growing 12.1% to $409.26 billion, up from $365.00 billion in December. Coinbase posted a 13.5% increase to $61.17 billion, while OKX rose 11.2% to $55.87 billion. Mid-sized venues also showed strength, with Gate increasing 14.2% to $47.23 billion and Upbit posting one of the largest centralized gains at 44.4% to $40.80 billion.
Other notable performers included Bitget (up 24.0% to $34.71 billion), Kraken (up 16.5% to $32.83 billion), MEXC (up 14.5%), and Crypto.com (up 12.7%). However, not all exchanges shared in the growth, with Bybit declining 16.1% to $62.71 billion, KuCoin dropping 14.0% to $39.19 billion, and HTX falling 16.6% to $38.94 billion.
Futures trading showed much more modest growth, with total volume edging up just 0.5% to $3.38 trillion from $3.37 trillion in December. Binance led derivatives trading with $1.65 trillion in January volume, a 0.7% increase month-over-month. Bybit ranked second in futures volume despite a 2.1% decline to $491.62 billion, while OKX narrowed the gap with a 2.7% increase to $490.95 billion.
Several derivatives exchanges posted stronger gains, including Bitget (up 8.6% to $269.38 billion), Gate (up 10.6% to $94.96 billion), and HTX (up 4.3% to $87.90 billion). Smaller venues showed particularly strong percentage growth, with Crypto.com futures volume advancing 17.7% to $47.20 billion and Hyperliquid surging 46.3% to $56.99 billion.
