Crypto Spot Volumes See Decline Still Across June, Upbit Drops 44.54%
Based on spot trading volume data since June 2024, Fazzaco has compiled the performance of the top ten crypto exchanges. In this month, the crypto market's growth dropped 18.06% compared to last month. All ten exchanges in the article have dropped back to their February level.
The specific data are as follows:
The world's largest cryptocurrency exchange had a spot trading volume of US$421.49 billion in June, a 22.94% drop from US$546.94 billion in May.
Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia ruled late June 28 that the majority of the U.S. Securities and Exchange Commission's lawsuit against Binance can proceed.
The decision deals a setback to Binance, the world's largest cryptocurrency exchange, which had sought to dismiss the SEC's allegations of securities law violations.
The Dubai-based crypto exchange Bybit had a spot trading volume of US$117.12 billion in June, down 1.84% from US$119.32 billion in May.
The crypto exchange Gate.io, which was first established in China in 2013 and later moved to the Cayman Islands, had a spot trading volume of US$73.84 billion in June, down 4.78% from US$77.55 billion in May.
HTX had a spot trading volume of US$72.07 billion in June, up 5.60% from US$68.25 billion in May. The exchange was the only one that managed to rise monthly out of the Top 10.
OKX had a spot trading volume of US$63.31 billion in June, down 26.48% from US$86.11 billion in May.
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, announced on June 3 the official introduction of its crypto exchange services and Web3 Wallet in the Netherlands, following its entry into Australia last month.
The leading US exchange Coinbase had a spot trading volume of US$59.53 billion in June, down 14.36% from US$69.51 billion in May.
Stripe and Coinbase have announced a strategic partnership aimed at expanding the global adoption of cryptocurrency and providing faster, more affordable financial infrastructure. This collaboration aims to serve businesses and individuals worldwide, as detailed in a blog post by Coinbase.
The Korean crypto exchange Upbit had a spot trading volume of US$30.61 billion in June, down 44.54% from US$55.19 billion in May. Upbit suffered the biggest drop out of the ten exchanges, again, following the same situation last month when it dropped an astounding 70.54%.
It is worth noting that Upbit once achieved US$221.45 billion in spot trading this March. Comparatively, the June performance is merely 13.82% of that of March.
The offshore-regulated crypto exchange Kucoin had a spot trading volume of US$19.9 billion in June, down 11.71% from US$22.54 billion in May.
Kraken had a spot trading volume of US$18 billion in June, down 23.08% from US$23.4 billion in May.
LMAX Digital is a crypto exchange operated by the UK FCA-regulated LMAX Group. It had a spot trading volume of US$12.55 billion in June, down 19.12%from US$12.55 billion in May.
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