Crypto exchange trading volume fell 21.8% in June, marking the third consecutive month of decline
On July 18th, CCData reported that the trading volume of centralized cryptocurrency exchanges decreased by 21.8% in June, marking the third consecutive month of decline in spot and derivative trading volumes since March. The total trading volume of spot and derivative products for all centralized exchanges in June was $4.2 trillion, a 53% drop from the record high of $9 trillion at the end of March. The report noted that the significant drop in the prices of bitcoin and other cryptocurrencies in June triggered a series of liquidations, resulting in a significant 9.7% decrease in open interest contracts on cryptocurrency derivative exchanges. The world's largest institutional derivative exchange, the Chicago Mercantile Exchange (CME), also experienced a "significant" decline in futures trading volume, dropping 11.5% to $103 billion in June. The main reason for this decline was the significant drop in bitcoin and ethereum futures contracts, which fell 11.5% and 15.8%, respectively.
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