Odaily Planet Daily News CCData released the latest exchange report. In July, the total volume of spot and derivatives transactions on centralized exchanges (CEX) decreased by 12.0% to $2.36 trillion, the lowest monthly volume this year.
- Binance is the largest spot trading platform with a trading volume of $208 billion.
-In July, Upbit's spot trading volume increased by 42.3% to US$29.8 billion. Upbit is the second largest exchange by trading volume.
According to previous reports, CCData data showed that the trading volume of CME cryptocurrency options increased by 24% in July to 940 million US dollars, the first increase in four months. Bitcoin options volume rose 16.6 percent to $734 million. Ethereum options volume rose 60% to $207 million.
Additionally, CME’s futures volume fell 17.6% to $39.1 billion, while total derivatives volume (futures and options) fell 17.0% to $40.1 billion, according to CCData.
The CCData report stated that the increase in the trading volume of CME Bitcoin options indicates that institutions may use options to hedge their positions due to the uncertainty in the market.