The July trading report for centralized exchanges (CEX) reveals a significant uptick in market activity.
Surge in Spot Trading Volumes
According to the report, spot trading volumes surged 62% month-on-month (MoM). BitMart led the pack with a staggering 143% increase, followed by Upbit at 141% and Coinbase at 79%. These figures indicate growing activity among both retail and institutional traders. However, analysts note that some results may be influenced by wash trading or automated bot activity.
Gains in Derivatives
Derivatives volumes also saw a robust rise, recording a 31% MoM increase. KuCoin topped the derivatives leaderboard with 71% growth, followed by Bitget at 57% and Crypto.com at 51%. This uptick signals an increased appetite for leveraged trades, likely fueled by mid-summer price swings across major cryptocurrencies.
Strong Growth in Website Traffic
Beyond trading activity, website visits to major CEXs rose 16% in July. HTX saw the biggest jump at 85%, while Bitfinex and Kraken posted increases of 47% and 42%, respectively. Rising traffic often reflects growing trader interest, but these metrics can also be affected by non-human visits.
The overall increase in trading volumes on centralized exchanges in July indicates a rebound in market interest. It will be crucial to monitor further developments to understand how they will impact the future trading climate.
