Data from WuShuo Team indicates that spot trading volumes on major exchanges increased by approximately 10% in January 2026 compared to December 2025. Bitfinex led the growth with a 67% increase, followed by Uniswap at 62% and Upbit at 44%. Conversely, HTX, Bybit, and KuCoin saw declines of 17%, 16%, and 14% respectively. In the derivatives market, trading volumes rose by about 0.5% over the same period. Hyperliquid experienced the highest growth at 46%, with Cryptocom and Gate following at 18% and 11%. MEXC, KuCoin, and Deribit reported decreases of 27%, 17%, and 8% respectively.