Exchange Review - July 2025
Crypto markets posted a strong rebound in July. Spot trading volumes rose 53.7% to $2.2T, the highest since February, while derivatives volumes jumped 30.6% to $6.5T, setting a new yearly high.
작성자 CoinDesk Data
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What to know:
Crypto markets posted a strong rebound in July. Spot trading volumes rose 53.7% to $2.2T, the highest since February, while derivatives volumes jumped 30.6% to $6.5T, setting a new yearly high. This rally followed Bitcoin’s mid-month all-time high, buoyed by favorable macro conditions and corporate treasury inflows.
Key highlights:
- Crypto Open Interest Reaches Yearly Highs: In July, open interest on centralized derivatives exchanges rose 38.9% to $180B. Binance, CME and Bybit were the top three exchanges by open interest, accounting for 20.2%, 16.8% and 12.2% of open interest on centralized exchanges.
- Derivatives Market Share Falls to 71.3%: Despite derivatives volumes reaching a yearly high of $6.5T, their market share declined from 77.6% to 71.3% as spot trading growth (+53.3%) outpaced derivatives growth (+30.6%). Binance maintained its leadership within derivatives markets with $2.60T (+37.5%) volume.
- CME Institutional Volumes Rise Over 30%: CME institutional volumes rose 31.7% to $260B, led by growth in alternative assets. Ether futures surged 68.7% to $72B while Solana futures jumped 274.9% to $5.5B. BTC futures posted more modest 13.54% growth to $156B.
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