CEX perp trading volume drops to $4 trillion in July
TL;DR
- CEX perpetual futures volume fell to $4 trillion in July, reaching its lowest monthly level since December 2023.
- Binance remained the largest venue with $1.4 trillion, followed by OKX with $607 billion and Bybit with $300 billion.
- DEX perpetual volume also declined, although Hyperliquid continued expanding its role through growing RWA activity and broader onchain markets.
Crypto perpetual futures trading on centralized exchanges (CEXs) slowed sharply in July, with CEX perp trading volume falling to $4 trillion, its lowest monthly level in 31 months. The decline followed a brief recovery between April and June and reflects a broader reduction in speculative activity across crypto markets.
According to data shared by CryptoRank, Binance handled approximately $1.4 trillion in perpetual futures volume during July. OKX followed with $607 billion, while Bybit recorded around $300 billion. Despite the decline, major centralized venues continue to process substantial derivatives liquidity, preserving their importance for traders seeking leverage and deep market liquidity.
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