๐ In July, the trading volume on centralized crypto exchanges amounted to $1.71 trillion
Compared to June ($1.1 trillion), the figure increased significantly +55%. Binance remained the leader in terms of trading volume. Its figure increased from $436.24 billions in June to $683.41 billion, which was the best result for the site since January. The trading volume on decentralized exchanges (DEX) also reached the maximum since January, amounting to $435.3 billions.
As a result, we can see that the number of investors is growing and more people are showing interest in cryptocurrencies - this is one of the many factors behind the growth in trading volumes.
At the end of the week $BTC - ETFs recorded the largest outflow since April - $643 millions. However, during the same period $ETH - funds on the contrary added $154 millions.BTC faced a wave of sellย offs, small investors panic-dropped the asset while it was declining, but there are no serious preconditions for a prolonged correction.
We just saw a local drawdown, collected liquidity from below and now we are quite ready to turn around and continue the upward dynamics, as the market is still bullish.
