June Trading Volume on Centralized Exchanges Plummets 17%, With Spot and Derivatives Trading Hit Hard

IconCryptoNewsTerminal Staff15 Jul, 2024

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June Trading Volume on Centralized Exchanges Plummets 17%, With Spot and Derivatives Trading Hit Hard

According to a recent report by blockchain analytics firm UBlokchain, the combined spot trading volume across major centralized cryptocurrency exchanges (CEXs) witnessed a significant 17% decline in June compared to the previous month. Notable Gainers and Losers Despite the overall downturn, two exchanges managed to defy the trend and increase their trading volume: - MEXC: +13.2% - HTX (formerly Huobi): +6.7% On the other hand, several exchanges experienced substantial drops in trading volume: - Upbit: -45% - Bitfinex: -38% - KuCoin: -32% Derivatives Trading Volume Slumps The weakness in the spot market was mirrored in the derivatives space, with trading volume on major exchanges falling by 19% in June compared to May. This decline reflects the broader bearish sentiment and diminished risk appetite among traders.

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