New data tracked widely by Crypto Correspondent WU Blockchain highlights the monthly performance of top-ranked crypto exchanges in the derivatives market. Among the exchanges that performed best in terms of monthly change, Kucoin recorded the biggest improvement.
Kucoin is leading futures trading volume in July
Kucoin has brought the largest month’s change of the top 11 exchanges, according to a July WU Blockchain CEX data report. In June, Kucoin registered a $51.5 billion futures trading volume. By the end of July, this figure had skyrocketed to $877.9 billion, marking a monthly growth of 70.8% (mama).
Cumulatively, the amount of the derivatives market increased by 31% from June to the end of July, with Kucoin making a significant contribution.
Kucoin’s powerful show in the spot market
Kucoin also worked prominently in the spot market, particularly based on metrics beyond the month. That spot trading volume rose about 65% in July, rising from around $30.1 billion in June to $49.65 billion by the end of July.
Overall, Crypto Spot Market saw a 62% improvement in July compared to June. The main factor affecting this growth was Bitcoin performance. Bitcoin peaked at $123,200 during the period, improving broader market sentiment. Since then, it has hit a new high of $124,450 in August.
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