• Binance remains the biggest exchange with a monthly trading volume of $1.06 trillion in July.
• Upbit outperforms Coinbase and OKX by showing an increment of 42.3% in trading volume at $29.8 billion.
• Spot trading volume for 11 graded AA-A exchanges went down by 11% compared with the previous month, totaling $291 billion.
Binance Still Leading The Market
CCData, a global data provider, released a new report on cryptocurrency exchanges’ performance for July. According to the report, centralized exchanges have shown the lowest trading volume in the markets since 2021. Binance is leading the derivatives and spot cryptocurrency exchanges, being the number one exchange as per trading market volume in July with a monthly trading volume of $1.06 trillion (down 12.25% compared to June). OKX falls in second place with ($355 billion, down 13.1%) and Bybit ($215 billion, down 11.6%). Bitget and BitMEX showed good performance in the derivatives markets, showing a minimal decline of 6.97% and 7.92%, respectively.
Upbit Breaks The Trend
Upbit broke the general market trend by showing an increment of 42.3% and having a trading volume of $29.8 billion , outperforming some of the biggest cryptocurrency exchanges like Coinbase and OKX .OKX trading volume fell 11.6%, getting to a value of $28..6 billion while Coinbase’s fell 575%, having a trading volume of $29 billion . Upbit is currently the second-biggest exchange in the market as per trading volume.
Spot Trading Volume Trends
The spot volumes for 11 graded AA-A exchanges went down by 11% compared with the previous month , totaling $291 billion . Binance , Upbit , and Coinbase were top 3 exchanges , leading this spot market representing nearly 74 % (compared to 72 .7 %)of total spot trades’ volumes.
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