TechFlow news, according to a CCData report, trading volume on centralized cryptocurrency exchanges declined by 21.8% in June, marking the third consecutive monthly drop in both spot and derivatives volumes since March.
The total spot and derivatives trading volume across all centralized exchanges reached $4.2 trillion in June, down 53% from the record high of $9 trillion seen at the end of March.
The report noted that open interest on crypto derivatives exchanges dropped significantly by 9.7% in June, triggered by a series of liquidations amid sharp declines in Bitcoin and other crypto asset prices. The Chicago Mercantile Exchange (CME), the world's largest institutional derivatives exchange, also saw a notable decline in futures trading volume, which fell 11.5% to $103 billion in June.
The main driver behind this decline was a substantial drop in futures contract volumes for Bitcoin and Ethereum, which decreased by 11.5% and 15.8%, respectively.
