CryptoCompare: July trading volume on leading Bitcoin exchanges climbs to $334 billion

In July, trading volumes on high-reliability cryptocurrency exchanges rose 42.1% to $334 billion. They accounted for 60% of the spot market’s trading volume. Analysts at BitMEX Research said this, citing CryptoCompare data.

July 2020 Report Into Cryptocurrency Exchanges

From @CryptoCompare

* Top-Tier volumes increased 42.1% to $334bn
* Derivatives trading on 27th July saw the highest volumes ($47bn) in a day since the Bitcoin price crash on 12th Marchhttps://t.co/886cWSZI3Q pic.twitter.com/4VgQGjtcBA

— BitMEX Research (@BitMEXResearch) August 17, 2020

Trading volumes on exchanges CryptoCompare deems less reliable fell by 38.1% to $224 billion.

Leading by trading volume in July were Binance, OKEx and Huobi Global. Binance’s turnover was $68.4 billion, OKEx $44.1 billion and Huobi $23.5 billion.

Derivatives trading volumes also rose by 13.2%. On 27 July this indicator reached its highest levels since the Bitcoin price crash in March. On that day, 90% of the trading volume was captured by four leading exchanges — Huobi, OKEx, Binance and BitMEX.

In July, CryptoCompare’s exchange ranking was led by the Gemini platform.

For CoinMetrics’ take on which Bitcoin exchanges are trustworthy, read in ForkLog article.

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