According to Chinese journalist Colin Wu, July was not a very good month for the cryptocurrency industry, with a decrease in trading volume recorded in both the spot and derivatives markets.
Wu’s team processed data from Coingecko and Similarweb. On centralized cryptocurrency exchanges, the decrease in trading volume compared to June was 1.7%, to $1.69 trillion. At the same time, some sites recorded growth – the total trading volume on the largest exchange Binance grew by 9.3%, and on the Binance.US platform, the growth was immediately 76.7%. The leader in terms of growth was the Phemex exchange, where the indicator increased immediately by 227.4%. The volume of trading on the LBank (-51.4%), Huobi (-31.3%) and Gate.io (-31.2%) platforms decreased significantly.
In the market of futures crypto-currency products, the drop is more noticeable – trading volumes for the month fell by 5.2% and amounted to $3.97 trillion. Here, all exchanges recorded a decrease in trading, with the exception of OKEX (growth by 5.5%), Huobi (+1.9%) and Gate.io (+0.2%).
Unsurprisingly, the site visits of centralized cryptocurrency exchanges have also declined. The fall was 10.13%. A decrease in attendance was also recorded by all exchanges, with the exception of MEXC (+22.7%), BitMart (+15.4%) and Bitget (+14.3%) exchanges. Most often, users from Russia, the USA and South Korea visit cryptocurrency exchanges.
Earlier, the CryptoSlam analytical service reported that July sales of non-fungible tokens in the secondary markets, compared to June, fell by 25%, to $650 million.
Source: Bits
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