Miguel Lopez According to a recent report, spot and futures trading volumes on centralized crypto exchanges (CEXs) experienced a surge in June. However, the study also revealed a continued decline in website traffic to major digital asset trading platforms, along with insights into the geographical distribution of these trends.
Spot Trading Volume on Leading Exchanges Sees a Significant Jump
Data from Coingecko, compiled by Chinese crypto journalist Colin Wu, known as ‘Wu Blockchain’ on Twitter, indicates that spot trading volume on major centralized cryptocurrency platforms increased by 10.4% in June compared to the previous month.
Among the notable exchanges, Bitmart witnessed the highest increase with a staggering 61%, followed by Upbit (48%) and Bybit (35%). On the other end of the spectrum, Crypto.com (-18%), Huobi (-17%), and Mexc (-11%) experienced the most negative growth rates, as highlighted in Wu’s recent blogpost.
Futures Trading Volumes Show Similar Growth Rates
The report also revealed a similar pattern in futures trading volumes on these exchanges, which saw a percentage increase of 9.5% last month. Leading the way were Bitmart (46%), Deribit (15%), and Kucoin (14%), while Crypto.com (-29%), Gate (-17%), and Bitmex (-5%) had the lowest growth rates.
Continued Decline in Website Traffic
Meanwhile, website traffic to the leading trading platforms experienced a further decline, dropping by 8% from May. According to traffic data from Similarweb, the three exchanges that observed the highest increase in visits were Deribit (46%), Okx (11%), and Bybit (5%). Conversely, Huobi (-37%), Bitget (-29%), and Bitfinex (-27%) witnessed the steepest declines.
Binance Shows Mixed Results
Binance, the world’s largest cryptocurrency exchange, witnessed a 6.9% expansion in spot trading volume and a 6.3% increase in futures trading volume. However, the global trading platform, which has been facing regulatory pressures worldwide, experienced a 10% decrease in website traffic.
What are your thoughts on the market data presented in Wu Blockchain’s report? Feel free to share your opinions in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about cryptocurrency trading
What does the report by Wu Blockchain indicate about spot and futures trading volumes on centralized exchanges?
The report by Wu Blockchain indicates that spot and futures trading volumes on centralized exchanges experienced an increase in June. Spot trading volume on major exchanges rose by 10.4%, while futures trading volumes climbed by 9.5%.
Which exchanges showed the highest increase in spot trading volume?
According to the report, Bitmart, Upbit, and Bybit registered the highest increases in spot trading volume, with growth rates of 61%, 48%, and 35% respectively.
Which exchanges witnessed the most significant decline in website traffic?
The report highlights that Huobi, Bitget, and Bitfinex witnessed the steepest declines in website traffic, with traffic decreases of 37%, 29%, and 27% respectively.
How did Binance perform in terms of trading volume and website traffic?
Binance, the world’s largest cryptocurrency exchange, saw a 6.9% expansion in spot trading volume and a 6.3% increase in futures trading volume. However, its website traffic decreased by 10%.
What are the overall trends in website traffic to major trading platforms?
The report shows that website traffic to major trading platforms for digital assets continued to decline, with an 8% decrease in June compared to May. This indicates a downward trend in user visits to these platforms.
More about cryptocurrency trading
- Wu Blockchain – Twitter profile of Colin Wu, the Chinese crypto journalist who compiled the data for the report.
- Coingecko – Cryptocurrency market data platform that provided the data on spot trading volume.
- Similarweb – Website traffic analytics platform used to gather data on the decline in website traffic to trading platforms.
