June's Centralized Exchange Trading Volume Down 21.8% Compared to Previous Month

IconCryptoNewsTerminal Staff17 Jul, 2024

cryptonews.jpg

June's Centralized Exchange Trading Volume Down 21.8% Compared to Previous Month

Centralized Exchange Trading Volume Drops 21.8% in June Cointelegraph's analysis reveals a significant decline in the trading volume of centralized exchanges (CEXs) in June. Compared to the previous month, the combined volume of spot and derivative products fell by 21.8%. This downward trend has persisted for the past three months. The forced liquidation of large futures positions due to the recent price decline is a major factor in this decrease. Open interest and options trading volume also contracted compared to May. Concerns about selling pressure stemming from Mt. Gox's restitution and the German government's sale of billions of dollars worth of bitcoin are seen as contributing to the reduced trading activity. Binance's market share declined from 40.4% in June 2021 to 31.2% in June 2022. Bybit and Bitget, on the other hand, saw their market shares increase by 4%p and 3.7%p, respectively, over the same period. ```

Related News