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

Crypto spot trading volume plummeted in July 2026, dropping by 21.7% to $429.0 billion from $547.9 billion in June.

According to WuBlockchain, every major exchange saw a decline in trading volume during the same period.

Binance dominated the market with $196.5 billion and 45.8% of total spot trading volume, followed by OKX ($41.6 billion) and Bybit ($36.3 billion).

The largest falls in turnover were from Bitfinex, with a drop of 59.7%, followed by Coinbase (26.4%) and Bybit (24.5%).

Despite the market-wide reduction in trading volumes, specific exchanges may have performed better or worse due to differences in trader preferences, fee structures, and liquidity incentives.