CryptoCompare analytical company has released a report on trading volumes on cryptocurrency and derivatives exchanges for July. The share of the largest exchanges has grown significantly.
In their report, analysts assigned each of the 165 exchanges a rating from AA to E, and analyzed trading volumes by rating. It turned out that in July, users were trading much more on large exchanges with a AA-B rating. The trading volume on such changes increased by 42% in July and exchanges to $ 334 billion. On exchanges with lower ratings, the trading volume decreased by 38% to $ 224 billion. The maximum trading volume per day on the derivatives (futures) cryptocurrency market was recorded on July 27 and to $ 27.1 billion
Thus, up to 60% of trading takes place on major exchanges. And this is very different from the market situation in June.
CryptoCompare specialists also researched the cryptocurrency derivatives market. The trading volume on such platforms increased by 13.2% and to $ 445 billion. July 27 also became the day with the maximum trading volume for all derivatives, including futures - transactions for $ 46.91 billion were recorded. The derivatives market occupies 41% of the total cryptocurrency trading market.
Despite a noticeable increase in trading volume in July, it is still noticeably less than the same indicators last year, when the highs also fell in the summer months. Cryptocurrency trading dropped especially strongly in June.
Earlier, CryptoCompare analysts have already reported that large exchanges are gradually ousting small sites from the market, while the overall security of the cryptocurrency market still leaves much to be desired.
