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Crypto trading volume surged 19% in July, hitting $4.94 trillion, marking its first increase in four months, according to CCData. 
In July, global crypto trading volumes on centralized exchanges rose 19% to $4.94 trillion, marking the first increase in four months, per CCData <a href="http://uploads-ssl.webflow.com/63e3774c88285e5c6cbf3b9d/66b37377ca25a6652f2a82f3_Exchange%20Review%20July%202024.pdf" target="_blank" rel="">latest research report</a>. The firm attributes the surge in volume to the launch of spot Ethereum <a href="https://crypto.news/tag/ethereum-etf/" target="_blank" rel="noreferrer noopener">exchange-traded funds</a> in the U.S. and positive sentiment expressed by U.S. political figures at the <a href="https://crypto.news/bitcoin-breaks-70k-after-trumps-nashville-remarks/" target="_blank" rel="noreferrer noopener">Bitcoin conference</a> in Nashville, Texas. 
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 Aggregate monthly spot volumes | Source: <a href="http://ccdata.io/reports/exchange-review-july-2024" target="_blank" rel="">CCData</a>
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The report indicates that both spot and derivatives trading volumes on centralized exchanges saw significant growth, with spot trading volumes rising 14.3% to $1.44 trillion and derivatives trading volumes increasing by 21% to $3.50 trillion. The share of the derivatives market climbed to 70.9%, the highest level since December 2023. 
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 <img loading="lazy" decoding="async" width="1024" height="553" src="https://crypto.news/app/uploads/2024/08/hidfhgiufd-1024x553.png" alt="Crypto trading volume jumps 19% for first time in four months: CCData - 5"> 
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 Monthly AA-A spot exchanges volumes | Source: <a href="http://ccdata.io/reports/exchange-review-july-2024" target="_blank" rel="">CCData</a>
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CCData says <a href="https://crypto.news/tag/bybit/" target="_blank" rel="noreferrer noopener">Bybit</a> emerged as a top performer in July, with its spot trading volume increasing by nearly 23% to $132 billion, the third-highest monthly volume in the exchange’s history. This boost in trading activity helped Bybit achieve a record market share of 9.18%, cementing its position as the second-largest spot exchange. 
Despite this, <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a> retained its position as the largest spot exchange with a market share of 28.1%, though this represents a decline of 4.9% from the previous month, the report reads. 
In the derivatives market, Binance also maintained its dominance with a 43.5% market share, followed by <a href="https://crypto.news/tag/okx/" target="_blank" rel="noreferrer noopener">OKX</a> at 19% and Bybit at 15.1%. The report also highlights a significant spike in volatility in early August, which led to the second-highest daily spot trading volume since May 2021, a time when China’s ban on Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) mining disrupted global markets. 
 Read more: <a href="https://crypto.news/bybit-winds-down-services-in-france-as-regulatory-pressure-mounts/"> Bybit winds down services in France as regulatory pressure mounts </a>

Crypto trading volume jumps 19% for first time in four months: CCData

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