Long story short story

  • Spot trading volume on centralized exchanges rose 16.4% to $575 billion in June, the first increase in three months.

  • Binance’s spot trading market share fell for the fourth consecutive month, falling to 41.6% in June. This is the exchange’s lowest market share since August 2022.

  • Derivatives trading volume on centralized exchanges rose 13.7% to $2.13 trillion in June, the first increase in derivatives trading volume in three months.

Report source

The original text of this report comes from CCData’s Exchange Monthly Review June – the June edition of the exchange monthly report.

CCData

CCData is a benchmark administrator authorized by the FCA (UK Financial Conduct Authority) and a global leader in digital asset data, providing professional digital asset data and settlement indices. By aggregating and analyzing data from recognized exchanges around the world and seamlessly integrating multiple data sets, CCData provides users with a comprehensive and granular market overview, including trading, derivatives, order books, historical data and blockchain data .

Exchange monthly report

CCData's exchange reports capture key developments within the cryptocurrency trading market, focusing on analysis related to trading volumes, including content related to derivatives trading, trading volumes of cryptocurrency trading pairs, crypto-fiat trading pairs, etc. data.

CCData's exchange reviews are conducted monthly and are designed to provide market overview and analysis to crypto trading enthusiasts.

spot market share

Spot trading volumes increase for first time in three months

In June, spot trading volume on centralized exchanges increased 16.4% to $575 billion, the first increase in three months. Trading activity began to increase last month amid the SEC's lawsuits against Binance.US and Coinbase, as well as positive market sentiment toward spot Bitcoin ETF applications from companies such as BlackRock and Fidelity.

Despite the increase in trading volumes, spot trading volumes on centralized exchanges remain at historically low levels, recording the lowest quarterly volumes since Q4 2019. Binance’s spot trading market share fell for the fourth consecutive month, falling to 41.6% in June. This is the lowest market share Binance has achieved since August 2022.

contract market share

Derivatives market share drops for first time in four months

In June, derivatives trading volume on centralized exchanges increased 13.7% to $2.13 trillion, the first increase in derivatives trading volume in three months.

However, the market share of derivatives trading on centralized exchanges fell for the first time in four months, from an all-time high of 79.1% in May to 78.7% in June.

The increase in spot volume market share hints at the cryptocurrency’s health following recent positive news in the market. Binance remains the largest exchange for cryptocurrency derivatives trading, with a trading volume of $1.21 trillion. However, Binance’s market share has declined for the fourth consecutive month, falling to 56.8% in June, its lowest level since October 2022.

OKX, the second largest derivatives trading platform, saw its trading volume increase by 44.9% in June to $416 billion, accounting for 19.5% of the total derivatives trading share, which is the highest market share figure since April 2022 .

in conclusion

In June, combined spot and derivatives trading volume on centralized exchanges increased 14.2% to $2.71 trillion, marking the first monthly volume increase in three months. The increase in trading volume can be attributed to optimism stemming from the filing last month of a spot Bitcoin ETF application by BlackRock, the world's largest asset manager, and other traditional U.S. financial firms.