Spot Trading Volume Falls 21.7% to $429B in July 2026

Spot trading volume across major cryptocurrency exchanges totaled around $429 billion in July 2026, down 21.7% from $547.9 billion in June, according to Wu Blockchain's data. Fourteen exchanges were included in the sample, and every one of them posted a month-over-month decline. By volume, Binance ranked first with $196.5 billion, taking a 45.8% share. OKX came second with $41.6 billion, or 9.7%, and Bybit followed with $36.3 billion, or 8.5%. The top exchange alone represented 45.8% of combined volume; the three largest together accounted for 64.0%. The lightest falls came from Uniswap, down 9.8% to $24.5 billion; Kraken, down 13.4% to $22.3 billion; and Gate, down 15.9% to $13 billion. The steepest drops were Bitfinex, down 59.7% to $4.06 billion; Coinbase, down 26.4% to $30.3 billion; and Bybit, down 24.5% to $36.3 billion. The dataset may involve serious wash trading or bot activity, according to the report. The figures were preprocessed, including outlier removal, caliber calibration and standardization.