New data by widely followed crypto correspondent Wu Blockchain highlights the monthly performance of the top-ranking crypto exchanges in the derivatives market. Among the exchanges that performed best in terms of monthly change, KuCoin recorded the biggest improvement.
KuCoin had the largest one-month change among the top 11 exchanges according to Wu Blockchain’s CEX Data in July. In June, KuCoin registered a futures trading volume of $51.5 billion. By the end of July, this figure had surged to $87.79 billion, marking a 70.8% month-over-month (MoM) growth.
Cumulatively, the derivatives market volume rose by 31% from June to the end of July, with KuCoin making a significant contribution.
KuCoin also performed notably in the spot market based on month-over-month metrics. Its spot trading volume climbed approximately 65% in July, rising from around $30.11 billion in June to $49.65 billion by the end of July.
Overall, the crypto spot market saw a 62% improvement in July compared to June. A major factor influencing this growth was Bitcoin’s performance. Bitcoin hit a peak of $123,200 during the period, improving broader market sentiment. Since then, it has gone on to reach a new high of $124,450 in August.
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