**Centralized Exchange Trading Volume Surges by 19% in July, Driven by US ETF and Trump Speech**
CryptoNewsTerminal Staff08 Aug, 2024
**Centralized Exchange Trading Volume Surges by 19% in July, Driven by US ETF and Trump Speech**
CryptoGlobe reports that centralized exchange (CEX) trading volume has increased by an impressive 19.0% month-over-month to $4.94 trillion in July.
The rise in trading volume is attributed to various factors, including the launch of a US Ethereum (ETH) spot ETF and former US President Donald Trump's speech at the Bitcoin 2024 conference in Nashville.
Spot trading volumes alone saw a 14.3% month-over-month increase to $1.44 trillion, while derivatives trading volumes surged by 21.0% to $3.5 trillion.
Despite the increase, Binance remained the dominant player with a 28.1% market share, followed by OKX and Bybit with 19.0% and 15.1% shares, respectively.
Interest in the crypto market appears to be reviving, which could contribute to further growth in trading volumes in the coming months.
