Crypto trading volume jumps 19% for first time in four months: CCData

According to CCData, cryptocurrency trading volume increased by 19% in July to $4.94 trillion, marking the first increase in four months.

According to the latest research report from CCData, global crypto trading volumes on centralized exchanges increased by 19% to $4.94 trillion in July, marking the first increase in four months. The firm attributes the increase in volume to the launch of spot Ethereum exchange-traded funds in the US and the positive sentiment expressed by US political figures at the Bitcoin conference in Nashville, Texas.

Total monthly spot volumes | Source: CCData

The report states that both spot and derivative trading volumes on central exchanges have seen significant growth, with spot trading volumes increasing by 14.3% to $1.44 trillion, and derivative trading volumes increasing by 21% to $3.50 trillion. The derivatives market share rose to 70.9%, the highest level since December 2023.

Monthly AA-A spot exchange volumes | Source: CCData

CCData says Bybit emerged as one of the top performers in July, with spot trading volumes rising nearly 23% to $132 billion, the third-highest monthly volume in the exchange’s history. This surge in trading activity helped Bybit reach a record 9.18% market share and solidify its position as the second-largest spot exchange.

Despite this, Binance maintained its position as the largest spot exchange with a 28.1% market share, but this represented a 4.9% decrease compared to the previous month, the report noted.

In the derivatives market, Binance maintained its dominance with a 43.5% market share, followed by OKX with 19% and Bybit with 15.1%. The report also notes a significant increase in volatility in early August, which led to the second-highest daily spot trading volume since May 2021, when China’s ban on Bitcoin (BTC) mining disrupted global markets.