June Sees 17% Decline in CEX Trading Volume

Spot trading volumes on cryptocurrency exchanges fell by 17%, derivatives by 19.2%, and website traffic by 1%, according to journalist Colin Wu.

Binance remained the leader in spot trading, although its volume decreased by 22.6%. Competitors Bybit, Gate, and HTX narrowed the gap with changes of -1.6%, -4.3%, and 6.7% respectively.

Notable declines were observed at Upbit (-44.8%), Bitfinex (-37.5%), and KuCoin (-31.6%).

In the derivatives market, Binance’s turnover decline of 19.6% mirrored the overall market trend.

Bybit (-13.9%), MEXC (2.3%), Crypto.com (-9.3%), and HTX (-8.9%) improved their market positions. Gate (-34.4%), Deribit (-33.8%), OKX (-22.7%), and Bitget (-22.4%) saw sharper declines than the market average.

In terms of traffic, Bybit (+10%), KuCoin (+8%), Gate (+8%), OKX (+8%), and Deribit (+7%) showed growth. Upbit recorded a sharp decline of 26%.

Earlier, trading volume for ETP ($8.9 billion) remained below the year-to-date average levels ($21 billion), according to CoinShares.