Spot

Trillion

<p>In July, the cryptocurrency market experienced a decline in both spot and derivatives trading volumes across major exchanges. Spot trade volumes fell by 9% compared to the previous month.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdw4KPxHZXQVcmKcdCuM8aBvA34UzqKku6iI3EFQ6sPNzsXSYhJyZ_pkwWJemBdKzXdw64KhXbigsz6BqBqPkmvlMgKfZN3hVCo9npj1jWiwFYg5kKwLou_U_RF40kPT-qJG6-mpDKSDjDWJ1gqy7bLHYA?key=QaIsS0rXl2BnEnMVVn1GlA" alt="Spot Trading Volume">
  <figcaption class="wp-element-caption">
   Spot Trading Volume, Source: WuBlockchain
  </figcaption>
 </figure>
</div> 
<p>The top three performers were Crypto.com, Upbit, and Gate.io, with rises of 59%, 26%, and 21%, respectively. By comparison, there were notable losses of 21%, 18%, and 16% for Binance, Bitget, and OKX.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf5-ENXs37BsVa0W0CQsc4s2p6TuNsLmYOOATVIWdP6wbtrctt2UkDvUoJiUZAJ_gb3XBMTUsslVmj251ngfN1B4GxYFvQKl8L35ogiGi6Qw9_UjBsVYmeOW4TudymS4vOXVtYwyWKeA8X7Qe_XEAVvs9B5?key=QaIsS0rXl2BnEnMVVn1GlA" alt="Futures Trading Volume">
  <figcaption class="wp-element-caption">
   Futures Trading Volume, Source: WuBlockchain
  </figcaption>
 </figure>
</div> 
<p>Trading volumes for derivatives decreased by 4% as well. Crypto.com led the gains with a 56% increase, followed by Bybit and KuCoin with somewhat smaller increases. Mexc had a 14% decrease in this category, while HTX and Binance saw decreases with 8.3%, and 10.4%.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeomnXDGtez-pLmMdkH7E12UdwtENjU2VLYgzMh-l4_rOqxXUvkcA_Q8r3gcKLqvwkt109UFqX4Zilg_OKC7_3u4kAj1GU3osWHjV9S_ntrpi3FZEjakvFtPrx2I37M4vZgaz_TeWOg_GROGHSN_dakBqoe?key=QaIsS0rXl2BnEnMVVn1GlA" alt="Traffic Ranking and Traffic Geographical Distribution">
  <figcaption class="wp-element-caption">
   Traffic Ranking and Traffic Geographical Distribution, Source: WuBlockchain
  </figcaption>
 </figure>
</div> 
<p>Website traffic to major exchanges in July decreased by 18% month-on-month, with Gate.io being the only exchange to see a 15% increase.</p> 
<p>HTX and Coinbase had smaller declines, while OKX, Mexc, and Bitget faced the steepest drops in traffic, with decreases of 43%, 39%, and 29%, respectively. This trend in traffic, coupled with the overall decline in trading volumes, suggests a general cooling off in market activity.</p>  
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/02/08/crypto-spot-trading-hits-1-4-trillion-for-4-straight-month/" target="_blank" rel="noreferrer noopener">Crypto Spot Trading Hits $1.4 Trillion for 4 Straight Months</a></p> 
</blockquote>

Major Crypto Exchange See 9% Drop in Spot Trading Volume

The Crypto Times

Other articles published on Aug 12, 2024

Ethereum Powers a New Era of Real-World Asset Tokenization With Significant Institutional Backing

Top Crypto Pundit Says XRP Will Be Worth More Than Gold Once this Happens

Extreme Fear Grips Bitcoin Investors After Latest Price Drop

Anticipating Bitcoin ETF Options in Late 2024: Key Insights and Expectations

Bitcoin Drops Below $60,000 Level

Bitcoin Epic Price Pattern Spotted by Peter Brandt, But There's a Warning

Join our free newsletter for daily crypto updates!