Trading Volume Decline on Crypto Exchanges in June

Combined spot and derivatives volumes on centralized crypto exchanges fell by 21.8% in June, marking the third consecutive month of decline as exchanges competed for market share.

• In June, the total volume across all centralized exchanges was $4.2 trillion, down 53% from the record high of $9 trillion in March.
• Open Interest in crypto derivatives exchanges dropped by 9.7% due to liquidations triggered by price dips in Bitcoin and other assets.
• Market share among exchange providers shifted, with Bybit increasing to 8% and BitGet to 3.5%, while Binance fell from 40.4% to 31.2%.
• CME’s futures trading volume decreased by 11.5%, with Bitcoin and Ether futures declining by 11.5% and 15.8% respectively.
• ETH options trading volume on CME fell by 58% to $408 million following the frenzy for options positions after SEC’s approval of spot Ether ETFs in May.