According to the latest market data statistics, trading activity on mainstream exchanges in December showed a significant decline.

**Spot Trading Volume Fell the Most**

Overall, the spot trading volume in December decreased by 35% month-on-month. The three exchanges with the smallest declines were HTX (-16.48%), Bybit (-16.67%), and Bitget (-16.98%), demonstrating relatively stronger resilience. However, the situation for the trailing exchanges was much more severe—Kucoin declined by 39.85%, a leading exchange plummeted by 40.85%, and Upbit experienced the largest drop of 43.75%. The softness of the spot market is evident.

**Perpetual Contract Trading Volume Decreased by 26%**

The decline in the derivatives market was not as sharp as in the spot market but was still significant. In December, perpetual contract trading volume decreased by 26% month-on-month. HTX performed relatively better with a decline of only 7.21%, Kraken followed closely with -7.69%, and Bitget remained relatively moderate at -20.73%. Conversely, Bybit, Crypto.com, and Kucoin experienced steeper drops of -29.40%, -29.93%, and -40.11%, respectively.

**Website Traffic Shows Divergence**

Interestingly, website traffic data showed a clear divergence. Despite an overall decrease of 11% in December, some exchanges experienced growth—one increased by 11.37%, while Bitget and Bybit grew by 7.43% and 5.68%, respectively. In contrast, a compliant platform declined by 13.64%, Upbit fell by 20.46%, and HTX faced an extreme drop of 75.29%.

**Download Volumes Slightly Under Pressure**

App download volumes experienced the least pressure, decreasing by only 3.5% month-on-month. Bybit and another exchange defied the trend, with growth of 20% and positive growth, respectively, indicating that these two platforms are still attracting new users.

Overall, market activity in December indeed declined, but different exchanges showed varying degrees of resilience, with some leading platforms maintaining growth in traffic and downloads.