The total
volumes generated from spot and derivatives trading activities on centralized
exchanges (CEXs) slumped by 12% to $2.36 trillion in July, hitting the lowest
monthly trading volume recorded this year, so far. The figures are based on the latest exchange review report by CCData, a digital assets data provider.
Specifically,
spot trading volume sank by 10.5% to $515 billion, the second-lowest
volume generated since March 2019. Similarly, crypto exchanges generated the second-lowest
derivatives volumes posted since December 2020. This is even as the value of trading activities went down by 12.7%
to $1.85 trillion.
In June, aggregate volumes
from both activities jumped by 14.2% for the first time in three
months, hitting $2.71 trillion. The bullish trend came amidst a new wave of
applications for spot
Bitcoin exchange-traded funds by institutional investors, Finance Magnates reported.
However,
volumes slowed down again in July, returning to record lows seen in the past
few months. CCData attributed the decline to insufficient volatility in the crypto market.
“The
decrease in trading volumes can be attributed to the lack of volatility in the
price action of major crypto assets, with Bitcoin and Ethereum
