As Bitcoin surged to a fresh all‑time high last week, overall exchange activity picked up sharply: spot trading volumes on centralized platforms rebounded alongside a notable uptick in futures turnover, while aggregate open interest climbed, signaling fresh capital flowing into derivatives markets.
Among all venues, Binance recorded the largest single‑day increase in spot trading volume both on the day before and the day after the new high, thereby capturing additional market share the days after the peak–52% on July 18. Crypto.com, Coinbase, Bybit and OKX also showed a relatively high spot trading volume.
In parallel, Binance also registered the highest growth in futures open interest, as an influx of traders and investors opened long positions in anticipation of further gains. Gate.io and Bybit also saw a significant increase in their open interest in the same period.
Written by CQ Research
