The figure fell below the $500 billion mark for the first time since October 2023. This year, the highest trading volumes were recorded in January—$820 billion—after which trading began to decline, according to RBC.
In July, all 14 of the largest crypto exchanges listed in the report saw a decline in trading volume. The smallest declines were recorded by Uniswap (-9.8%), Kraken (-13.4%), and Gate (-15.9%). The sharpest declines were seen at Bitfinex (-59.7%), Coinbase (-26.4%), and Bybit (-24.5%).
Binance ($196.5 billion) topped the list in terms of volume with a 45.8% market share, followed by OKX ($41.6 billion) and Bybit ($36.3 billion) with shares of 9.7% and 8.5%, respectively.
Futures trading volume also declined over the month, though less significantly, by 11.1%. In July, it totaled $3.03 trillion, compared to $3.4 trillion in June. Thus, the ratio of futures to spot trading volume was 7.06:1, whereas in June, the futures volume was significantly lower at 6.21:1.
