Trading volume increased on other exchanges as well.

As Sam Bankman-Fried’s FTX crypto empire collapsed in November, trading activity on the digital asset exchange Binance Holding Ltd. significantly increased.

As a result of increased volume from customers and organizations that have grown weary of offshore exchanges, trading volume has also increased on cryptocurrency exchanges like Coinbase and Kraken, while trading volume on smaller exchanges has decreased.

Monthly trading volume on the largest exchanges jumped by 23%.

As a result of FTX-related volatility, monthly trading volume on major exchanges increased 23% to $705 billion in November, according to analysts’ statements in the newsletter.

The crypto industry became infected as a result of users trying to withdraw their money from FTX, with the Bloomberg Galaxy cryptocurrency index dropping by about 18% in November.

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