In November 2024, trading volume increased 22.6% month-on-month to $2.16 billion, while the number of transactions fell 35.8% to its lowest level of the year . Infrastructure leads with 48.3% of total volume, driven by significant Bitcoin mining debt financing, followed by stablecoins, led by Tether’s $600 million raise. These trends reflect the focus on large-scale strategic transactions as the end of the year approaches.
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