Crypto Exchange Volumes Surge 62% in July as Altseason Frenzy Takes Hold

Sean Williams
Crypto-Market

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  • CEX spot trading volumes rose 62% in July, derivatives up 31%.
  • BitMart, Upbit, and Coinbase led spot volume surges; KuCoin topped derivatives.
  • Ethereum and top altcoins surged, fueling bullish momentum despite Bitcoin cooldown.

July marked a significant turning point for centralized Crypto exchanges (CEXs) as altseason momentum fueled a strong surge in trading activity. Data reveals CEX spot trading volumes soared 62% month-over-month, while derivatives volumes climbed 31%, highlighting renewed investor enthusiasm beyond Bitcoin.

Explosive Growth in Spot and Derivatives Trading

Leading the charge, BitMart posted an extraordinary 143% jump in spot trading volume, closely followed by Upbit’s 141% increase. Coinbase and OKX also saw substantial growth, with spot volumes rising 79% and 49%, respectively. On the derivatives front, KuCoin led with a 71% increase, alongside Bitget (+57%) and Crypto.com (+51%). Platforms like HTX (+33%) and OKX (+30%) rounded out the list, showcasing broad-based gains across major exchanges.

Website traffic to these platforms also climbed, signaling heightened user interest. HTX experienced an 85% surge in visits, Bitfinex 47%, and Kraken 42%. However, some exchanges like BitMart showed stagnant traffic despite volume spikes, while OKX and Crypto.com recorded modest increases of 1% and 2%.

Altcoins Steal the Spotlight

While Bitcoin’s rally cooled after reaching $123,000, altcoins took center stage in July’s market dynamics. Ethereum made notable gains, smashing through $3,000 and $4,000 milestones to reach $4,317 — just shy of its all-time high. Factors like growing ETH treasury demand, strong ETF inflows, and renewed retail buying underpin optimism for further price advances in August.

Also Read: VeChain (VET) Leads Top 100 Cryptos with Bullish Sentiment Surging to 93.1%

Other top altcoins also surged: Binance Coin (BNB) surpassed $850 for the first time, XRP broke new records above $3.80, and several others hit fresh peaks. Although the altseason index retreated about 30% in early August, bullish momentum returned mid-month, suggesting potential for another upward leg.

What This Means for Crypto Traders

July’s surge in CEX trading volumes and altcoin strength signals a robust market environment fueled by retail and institutional demand. Traders and investors should watch major CEX platforms closely as increased liquidity often precedes volatile price movements. The altseason wave continues to create opportunities beyond Bitcoin, highlighting the importance of diversification.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

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