Crypto Spot Trading Volume Crashes 21.7% in July to $429B

Crypto spot trading volume plummeted by 21.7% in July to $429.0 billion, down from $547.9 billion in June, with all 14 major exchanges recording month-over-month declines.

Binance led the pack, accounting for nearly 46% of total spot trading volume at $196.5 billion, followed by OKX and Bybit.

The decline in trading volumes was not limited to centralized exchanges, as decentralized exchanges like Uniswap also saw a significant drop, with its spot trading volume falling 9.8% month-over-month.

Certain individual tokens, such as TON and SIREN, bucked the trend by experiencing large price increases of 83% and 70%, respectively.