In July, Bitcoin and Ethereum closed the month at $23,310 and $1,679, rising 22.0% and 62.8%, with the latter capitalizing on the Merge hype. Trading volumes across centralised exchanges rose 8.39%to $4.51tn with derivatives volume rising 13.4% to $3.12tn

July Highlights

• Spot trading volumes across all centralised crypto exchanges declined 1.34% to $1.39tn, the lowest monthly trading volume recorded since December 2020.
• Binance, FTX, OKX and Coinbase have all seen spot trading volumes decline since the start of the year.
• Derivatives trading volume rose for the first time since March, increasing 13.4% to $3.12tn.