In the month of July, crypto trading on spot and derivatives centralised exchanges rose 19.0% to $4.94 trillion, according to report distributed by CCData. This is said to be the first increase in four months.
The rise in trading is being attributed to the new Ethereum ETFs and the recent positive comments from former President Donald Trump and a potential shift in policy by Vice President Kamala Harris.
At the same time, prices have declined as Bitcoin has dropped from near term highs as well as Ethereum moving lower.
Other interesting data points provided in the report:
- Daily spot volume reach the second highest level since May 2021
- CME options reach new all-time high, rising 93.6% from June
- Derivatives trading on CME surged during Ether ETF launch month
- Bybit’s spot market share reaches new all-time high: Spot trading volume on Bybit rose 22.9% to $132 billion in July
Whether you are a bull or a bear, markets are expected to endure a period of heightened volatility as fears of a hard landing rise and a divisive election is just around the corner.
