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

Marathon Digital Eyes Bitcoin Acquisition with $250M Convertible Notes Offering

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

WEB3 CONSUMERS: THE CHAIN DOESN'T MATTER!

Tigran Gambaryan’s health worsens, surgery now required

SEC Moves to Amend Complaint Against Binance, Binance.US, and Zhao: Solana (SOL) May Be Impacted

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

Join our free newsletter for daily crypto updates!