Average Monthly Crypto Trading Volume Soared to $1.71 Trillion in 2025, the Second-Highest on Record

Crypto exchanges had a turbulent year in 2025, with monthly trading volumes swinging sharply as prices went up and down. A sell-off early in the year, driven by global uncertainty and risk-off sentiment, was followed by record crypto valuations in May and then new all-time highs in October, before the market pulled back toward the end of the year. But despite all this turbulence, 2025 was still one of the best years for crypto exchanges so far.
According to data presented by Bestwallet.com, the average monthly crypto exchange trading volume soared to $1.71 trillion in 2025, the second-highest on record.

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Average Monthly Trading Volume Rose 11% YoY in 2025 but Stayed 20% Below the 2021 Record

After ending 2024 with an average monthly trading volume of over $1.5 trillion, the second-highest figure at that point, crypto exchanges moved one step closer to the 2021 record- a significant move considering they had just ended another turbulent year.

The first months of the year brought massive price swings, rising regulatory pressure, and macroeconomic uncertainty following Trump’s tariff announcement, which led to panic selling and drove trading activity to record levels. The result was the fifth-highest monthly crypto exchange trading volume in the past four years.

According to data from The Block, crypto exchanges processed $2.4 trillion in transactions in January alone, the highest monthly figure in 2025. However, February saw a sharp 50% year-over-year decline, to $1.8 trillion in trading volume. Volumes plunged even further in March and April, falling to $1.3 trillion amid growing investor caution.

And while the bullish sentiment, fueled by Trump`s pro-crypto policies and rising institutional interest, brought a major recovery from mid-Q2 through the end of Q3, with trading volumes reaching $2.2 billion in October, the trend shifted again in November and December.  As the market cooled after earlier gains, trading volumes dipped to $1.6 billion in November and then to $1.1 billion in December.

But despite such dramatic monthly swings, 2025 still saw average monthly crypto exchange trading volume of $1.71 trillion, trailing only the 2021 bull run’s monthly averages of nearly $2.2 trillion.  Statistics also show that 2025`s average was 11% above the $1.5 trillion reported in 2024, 64% higher than the $1.04 trillion recorded in 2022, and 163% above the $650 billion monthly average seen in 2023.

Crypto Exchanges Ended 2025 with $20.5 Trillion in Trading Volume, More than 2022 and 2023 Combined

With crypto exchanges handling an average of roughly $1.7 trillion in monthly trades, the full-year trading volume skyrocketed to $20.5 trillion, the second-highest annual figure on record.
While this total is 21% below the all-time high of $26.2 trillion set in 2021, it still represents a solid 11% increase in a year, and it`s more than the trading volumes in 2022 and 2023 combined. Over those two years, crypto exchanges processed $20.3 billion in transactions, or roughly $200 million less than in 2025 alone.