Crypto trading volume climbed to an all-time high in November, with more than $10 trillion of digital assets changing hands for the first time on centralised spot and derivatives exchanges, according to a report by Bloomberg on Thursday.

The combined volume doubled last month, according to data compiled by CCData. Crypto markets surged amid optimism for a friendlier regulatory environment for the industry under the newly elected Trump administration, with market bellwether Bitcoin jumping 38 per cent and setting a record high of almost $100 000.

“This sentiment is evident in the increased appetite for assets like Ripple, which has historically faced heightened regulatory scrutiny,” said Jacob Joseph, senior research analyst at CCData.

“Optimism is also evident on the institutional side, with CME volumes seeing a significant uptick and substantial inflows into spot Bitcoin ETFs over the past month.”

Monthly spot trading volume on centralised exchanges increased 128 per cent, to $3.43 trillion, the second-highest number ever since May 2021. Derivatives volume climbed 89 per cent to $6.99 trillion, surpassing the previous all-time high from March, according to CCData.

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