According to a report by CCData, a digital assets data provider, crypto trading volumes on centralized exchanges in July fell to their lowest this year as the bear market lingers. Spot trading volumes dipped by 10.5% to $515 billion, while derivatives volume dipped by 12.7% to $1.85 trillion. This slump has been attributed to the low volatility in the price action of the two leading crypto tokens – bitcoin and ether. Both tokens have continued to experience sideways price movement since the beginning of July, thus keeping the market players out as they await a breakout. Binance Continues To Lead The Pack Despite Regulatory Concerns According to the latest exchange review report, Binance remains the largest crypto exchange by spot trading volume, recording $208 billion in trading volume for July. However, it wasn’t all good news for the exchange as its market share declined for the fifth consecutive month in July, dipping to 40.4% – its lowest since August 2022. Related Reading: Buying Pressure Incoming? MicroStrategy Files Notice With SEC To Sell $750 Million In Stocks The decline in Binance’s market share has been attri ..
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