Crypto trading volume surged 19% in July after four-month decline – CCData

In July, the global cryptocurrency trading volume on centralized exchanges increased by 19%, reaching $4.94 trillion.

This is the first increase in trading volumes in four months, CCData reports.

Increase in crypto trading volume

CCData noted that the increase in trading volume is due to the launch of Ethereum exchange-traded funds in the US and positive sentiment from local political figures at the Bitcoin conference in Nashville, Texas.

The report highlights significant growth in both spot and derivatives trading volumes on centralized exchanges. Spot trading volumes rose 14.3% to $1.44 trillion, while derivatives trading volumes grew 21% to $3.50 trillion. In addition, derivatives market share rose to 70.9%, its highest level since December 2023.

CCData reports that Bybit stood out in July, with its spot trading volume rising nearly 23% to $132 billion, marking the third-highest monthly volume in the exchange’s history.

This increase in trading activity allowed Bybit to reach a record market share of 9.18% and become the second largest spot exchange.

Binance maintains market leadership

Despite Bybit’s strong performance, Binance maintained its position as the largest spot exchange, with a market share of 28.1%. However, as indicated in the report, this represents a decrease of 4.9% from the previous month.

According to CCData, early August saw a notable increase in volatility, leading to the second highest spot trading volume since May 2021, a period marked by China’s crackdown on Bitcoin mining, which affect global markets.

In the derivatives market, Binance led with a market share of 43.5%, followed by OKX with 19% and Bybit with 15.1%. Coinbase International and Crypto.com stood out as the top performers among derivatives exchanges in terms of month-over-month growth, with their volumes up 181% to $28.3 billion and 102% to $75.6 billion, respectively .

Bybit and Crypto.com saw the biggest market share gains, with increases of 1.16% and 0.87%, respectively. In contrast, Binance and Kraken faced the most significant declines, with the former down 3.24% and the latter down 0.09%.

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