Key Takeaways
- Major crypto exchanges saw a sharp spike in trading activity in July compared to June.
- BitMart’s spot volume jumped 143%, while Coinbase recorded a 79% increase.
- The surge in CEX volumes reflects retail traders piling into the altseason frenzy.
As altseason heats up, centralized exchange (CEX) activity has surged — and July’s numbers prove it.
Fresh data shows CEX trading volumes soared more than 62% month-over-month in July, while derivatives volumes climbed 31%.
July’s Big CEX Breakout
July was a turning point for CEXs. Riding the altseason wave, trading volumes on major platforms skyrocketed.
BitMart led the pack with a massive 143% surge in spot trading volume. Upbit wasn’t far behind at +141%, while Coinbase jumped 79% and OKX climbed 49%.
Derivatives saw a similar boost — KuCoin rose 71%, Bitget 57%, and Crypto.com 51%, with HTX (+33%) and OKX (+30%) rounding out the list.
Website traffic also ticked higher, up 16% overall from June. HTX led with an eye-popping +85% traffic surge, followed by Bitfinex (+47%) and Kraken (+42%).
At the bottom end, BitMart saw no traffic change, OKX was up just 1%, and Crypto.com only 2%.
Bulls Take the Wheel
July didn’t just bring volume, it brought momentum. Bitcoin (BTC) cooled off after topping $123,000, but altcoins stole the spotlight.
Ethereum (ETH) broke out in spectacular fashion, smashing through $3,000, then $4,000, to hit $4,317 — just 12% shy of its all-time high.
Backers believe surging demand from ETH treasury companies, strong ETF inflows, and fresh retail buying could send ETH to new highs as soon as August.
Other top-10 altcoins also lit up the charts. Binance’s BNB broke $850 for the first time, XRP set a new record above $3.80, and several others hit fresh peaks.
The altseason index dipped 30% from its July high of 60% in early August, but with bullish momentum building again in the second week, sentiment may be gearing up for another leg higher.
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Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
