Binance achieves $2.55 trillion in futures trading volume last month, marking the highest in 7 months
Summary
- CryptoQuant reported that Binance's futures trading volume hit $2.55 trillion, the highest in seven months since January this year.
- Binance maintained its dominant position by claiming over half of the market share in the major exchange futures sector.
- The analyst stated that high liquidity and the prompt listing of altcoins contributed to the revitalized trading environment and the surge in trading volume.
Binance's virtual asset (cryptocurrency) futures trading volume has reached the highest level in seven months.
On the 5th, CryptoQuant, an on-chain analysis platform for virtual assets (cryptocurrencies), analyst maartunn delivered through a Quicktake report, "Binance's futures trading volume reached $2.55 trillion in July," adding, "This is the highest figure since January this year."
Major virtual assets, including Bitcoin, have experienced significant price swings recently, which indicates that user participation in the futures market has become active again. Maartunn explained, "After the recent price breakout, more investors are becoming active again."
During the same period, Bybit recorded a futures trading volume of $929 billion, and OKX reported $1.09 trillion. However, Binance accounted for more than half among all major exchanges, maintaining an overwhelming market share in the futures sector.
Maartunn analyzed, "The reason Binance continues to be preferred in the futures market is due to its high liquidity and rapid listing of altcoins," adding, "The active trading environment has greatly contributed to the recent surge in trading volume."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
