Bitcoin and Crypto Exchange Volumes Increased in June

  • According to data from CCData, spot trading volumes on centralized exchanges reached $575 billion in June, marking a 16.4% increase.
  • High-level spot volumes rose by 12.5% to $400 billion, while low-level exchange spot volumes increased by 26.4% to $175 billion.
  • In June, the derivative trading volume on the CME exchange surged by 23.6% to $48.3 billion.

According to a recent research report, trading volumes on centralized cryptocurrency exchanges saw an increase of over 16%, while the dominance of major exchanges in spot trading volumes declined.

Exchange Volumes on the Rise

cryptocurrency

According to data from CCData, spot trading volumes on centralized exchanges reached $575 billion in June, marking a 16.4% increase. This was the first increase in three months, as stated in the Monthly Exchange Review. The total trading volume of spot and derivative transactions on centralized exchanges rose by 14.2% to $2.7 trillion in June.

exchange-volumes

High-level spot volumes rose by 12.5% to $400 billion, and low-level exchange spot volumes increased by 26.4% to $175 billion. According to the April 2023 Exchange Comparison Ranking, top-tier exchanges now represent 69.6% of the total spot trading volume, compared to 72.0% in the previous month. The report stated:

“The increased volatility following the SEC’s lawsuit against Binance US and Coinbase and the positive outlook created by companies such as BlackRock and Fidelity applying for spot Bitcoin ETFs contributed to increased trading activity last month.”

Declining Market Share for Binance

The report claimed that Binance’s spot trading market share declined for the fourth consecutive month, falling to 41.6% in June, reaching its lowest level since August 2022. Binance’s derivative trading market share also experienced a decline, dropping to 56.8% in June, marking its lowest level since October 2022.

In the US, Coinbase continues to dominate, holding 61% of Bitcoin trading volume. However, US exchanges account for only 9.49% of the total global BTC trading volume, meaning Coinbase contributes only 5.83% to the global BTC trading volume.

In June, the derivative trading volume on the CME exchange surged by 23.6% to $48.3 billion. BTC futures attracted significant interest, with trading volume jumping by 28.6% to $37.9 billion. ETH futures trading volume also increased by 9.93% to $8.91 billion.

The CCData report included the following statements:

“The increase in BTC futures trading volume over the past few months highlights the growing trading activity by institutional players during the period when markets speculated on the SEC’s decision regarding multiple spot Bitcoin ETF applications.”

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