Crypto.com Leads the Charge in North American Spot Volume

Crypto.com, a major crypto exchange, marked an impressive turning point in this year’s crypto industry. The trading platform has surged to the forefront of North America’s crypto trading scene, leaving Coinbase, once a dominant player, in the dust. 

With trading volumes soaring over four times since mid-year, Crypto.com is outpacing Coinbase and other major players by a wide margin. The trading platform’s market success was driven by its smart token offerings, trading dominance, and bold moves against regulations. 

Crypto.com Bags Trading Milestone

Recent data showed that Crypto.com’s monthly trading skyrocketed from $34 billion in July to an impressive $134 billion in September. As of October, the exchange holds a massive $112 billion of North America’s total $173 billion in crypto trading volume, far outpacing its rivals.

Crypto.com’s competitive edge lies in its expansive token offerings. With over 378 tokens available, the exchange appeals to a broad spectrum of traders. The trading platform features major assets like Bitcoin (BTC) and Ethereum (ETH) as well as niche tokens like Book of Meme (BOME) and Jupiter (JUP).

This variety of digital asset offerings has helped attract a wider user base. Meanwhile, Coinbase and Kraken, by comparison, remain more selective, each listing fewer than 290 tokens.

BTC and ETH Dominate the Crypto.com Platform

Bitcoin and Ethereum are the backbone of Crypto.com’s trading activity, accounting for a significant portion of the platform’s overall volume. According to CoinGecko data, these two leading digital assets dominate the trades, especially when paired with Tether’s USDT stablecoin and the U.S. dollar. 

This preference reflects the platform’s growing user base in the U.S., with nearly 26% of web traffic coming from American traders, according to Kaiko Research. The platform’s dominance can also be attributed to the significant success of crypto Exchange-Traded Funds (ETFs) this year. The digital investment products spurred user engagement on the platform. 

Crypto.com’s growing trade size also caught the eye of industry experts. In a recent post on X, Matthew Sigel, VanEck’s Head of Digital Assets Research, discussed Bitcoin trade sizes on Crypto.com. He highlighted that average BTC trade sizes have tripled in 2024, likely due to heightened activity from market makers.

Crypto.com’s Legal Struggles with the SEC

Crypto.com has faced its share of challenges on the road to success. The trading platform took on the U.S. Securities and Exchange Commission (SEC) in court in October after receiving a Wells Notice. 

CEO Kris Marszalek stands firm, accusing the SEC of unauthorized overreach and committing to defend the crypto industry’s future. This legal saga highlights Crypto.com’s ambitious vision to secure its place in the North American crypto market.