In July 2026, the trading volume of perpetual futures on centralized cryptocurrency exchanges (CEX) dropped to $4 trillion. According to the CryptoRank analytical platform, this indicator is the lowest value since December 2023. After a short-term recovery in trading activity between April and June, there has been a repeated decline in turnover at all key trading platforms in the industry.

Despite the general market downturn, the Binance exchange retained its leading position in terms of monthly trading volume of perpetual futures, fixing the figure at $ 1.4 trillion. The OKX platform is in second place with a volume of $ 607 billion, and the Bybit exchange closes the top three with a result of $ 300 billion. The decrease in trading activity affected not only the futures, but also the spot segment of the market. According to the aggregator Coinglass, the average daily volume of spot transactions in July decreased by 23.6%, decreasing from $17.8 billion to $13.6 billion. A similar downward trend is observed in the decentralized finance (DeFi) sector. According to DefiLlama, the turnover of perpetual contracts on decentralized exchanges (DEX) amounted to $531 billion last month. This is 21% lower than the June figure, which was at around 676 billion dollars, and represents the lowest value since June 2025.

Additionally, there was a decrease in open interest on decentralized platforms: in July, this figure decreased to $ 17.9 billion. For comparison, the peak of open interest in this segment was recorded in September 2025 and amounted to $ 19.4 billion. At the same time, the Hyperliquid platform has become the largest decentralized exchange in terms of trading volume over the past 30 days, with a turnover of $199 billion. Against the background of declining trading turnover and open interest, Glassnode analysts recorded a record-long phase of capitulation in the bitcoin market in August, reflecting a general decrease in the speculative activity of participants.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.