- KuCoin saw a 71% month-over-month increase in derivatives trading volume.
- Its spot trading volume also jumped by 65%.
- Overall, the crypto derivatives market grew 31% in July amid the Bitcoin surge.
New data compiled 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 Leads in Futures Trading Volume in July
KuCoin had the largest one-month change among the top 11 exchanges according to Wu Blockchain’s CEX Data Report 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’s Strong Showing in the Spot Market, Too
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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