Crypto Exchange Spot Volume Falls 21.7% to $429 Billion in July

Crypto exchange spot trading volume fell 21.7% in July from the previous month, with combined volume across 14 major exchanges dropping to $429.0 billion from $547.9 billion in June.

Binance topped the rankings with $196.5 billion in spot trading volume, representing 45.8% of the total market. OKX ranked second at $41.6 billion, followed closely by Bybit at $36.3 billion. Together, these top three platforms accounted for 64.0% of total industry volume.

All 14 tracked platforms recorded month-over-month declines. Among them, the Uniswap decentralized protocol recorded the smallest contraction at 9.8%, followed by Kraken at 13.4% and Gate.io at 15.9%. 

Conversely, Bitfinex registered the largest contraction, with its volume falling 59.7%. Coinbase declined 26.4%, while Bybit posted a 24.5% decrease.

Source: Wu Blockchain