Trading volumes across cryptocurrency spot markets slipped by 42.7% in June, according to the latest research of London-based CryptoCompare.
In June, Top-Tier spot volumes decreased 41.0% to $2.4tn while Lower-Tier spot volumes decreased 53.2% to $317bn.— CryptoCompare (@CryptoCompare) July 12, 2021
Top-Tier dominance has almost doubled since Dec 2019 – climbing from 47% to 88.4% as more investors look to gain exposure to #crypto with the lowest amount of risk. pic.twitter.com/0UiiMwkwIR
- Total spot volumes fell to $2.7 trillion, in line with the continued slump in Bitcoin. The daily volume maximum of $138.23 billion was recorded on June 22, down 42.3% from May’s intra-month high.
- Binance recorded the top spot exchanges in terms of volume, followed by Huobi Global (Grade A) and OKEx. All three were down by over 40% during the month.
- Futures across all products declined by 40.9% month on month to $16.4 billion. This is the lowest five months since January 2021. Bitcoin futures open interest dropped 31.8%, and Ether futures slipped 29.3%.
Derivatives volumes fell 40.7% to $3.2 trillion.
BTC is down 1.45%, while ETH is down 2.02%.