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CoinDesk's Most Influential in Crypto 2018
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By Pete Rizzo
Updated Sep 13, 2021, 8:43 a.m. Published Dec 31, 2018, 4:53 p.m.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Lighter trading platform sees $250 million withdrawn 24 hours after airdrop
Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.
What to know:
- Approximately $250 million was withdrawn from Lighter after its $675 million LIT token airdrop.
- The withdrawals represent about 20% of Lighter's total value locked, according to Bubblemaps CEO Nicolas Vaiman.
- Large withdrawals post-token generation events are common as early participants exit, says CertiK's Natalie Newson.
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