Total volume of spot and derivatives trading activity on centralized exchanges (CEX) fell 12 per cent to 2 per cent in July..$36 trillion, the lowest monthly volume so far this year。The data is based on the latest exchange review report from digital asset data provider CCData。

Specifically, spot trading volume fell by 10.5% to $515 billion, the second lowest trading volume since March 2019。Similarly, the volume of derivatives traded by cryptocurrency exchanges was the second lowest since December 2020.。Even if the value of trading activity declines and grows 12.7% to 1.$85 trillion。

In June, the combined volume of the two events jumped 14 for the first time in three months..2% to 2.71 trillion dollars。The bullish trend comes amid a wave of applications from institutional investors for a new wave of spot bitcoin exchange-traded funds, according to Financial Giant。However, volume slowed again in July, returning to the historic lows of the past few months.。CCData attributes the decline to a lack of volatility in the cryptocurrency market。CCData explained: "The decline in trading volume can be attributed to the lack of volatility in the price movements of major crypto assets, with Bitcoin and Ethereum trading moving in a narrow range throughout July.。"

Meanwhile, Binance's market share continued to shrink in July, falling for the fifth month in a row to 40..4%。As cryptocurrency exchanges continue to fight regulatory opposition in multiple jurisdictions, especially in the United States, federal prosecutors are currently considering criminal charges against the exchanges, and their decline continues.。However, Binance remains the world's largest cryptocurrency exchange with a total of $208 billion in spot trading.。In fact, the exchange's Chinese users recently traded more than $90 billion in a single month, defying the Asian country's cryptocurrency trading ban.。

On the other hand, South Korean cryptocurrency exchange Upbit last month upset top exchanges such as OKX and Coinbase to become the second-largest exchange by trading volume, behind Binance.。Upbit's Spot Trading Volume Soars 42 in July.3% to $29.8 billion, while trading volumes at OKX and Coinbase each plummeted 11.6% and 5.75% to $28.6 billion and $29 billion。CCData explained: "Upbit has seen the largest increase in market share compared to the previous month, with the exchange currently accounting for 5% of the volume traded on centralised exchanges..78%。"The market share of Huobi Global Station and Kubin trading volume also increased, increasing by 1.92% and 0.47% to 3.84% and 2.21%。"