Binance Dominates as Crypto Exchange Volume Rockets to $1.7T in July – Still King of the Jungle

Crypto's bull run isn't just back—it's breaking records. Binance cements its top-dog status as trading volumes surge past $1.7 trillion in July alone. Who needs traditional finance when decentralized markets move this fast?

Volume tsunami sweeps exchanges

While regulators scramble to keep up, traders are voting with their wallets. The numbers don't lie—this isn't just a rebound, it's a full-blown capital migration. And guess who's still holding the golden ticket? (Hint: their orange logo isn't going anywhere.)

The zero-sum game continues

For every institutional FOMO buyer jumping in now, there's a crypto OG laughing all the way to their cold wallet. One thing's certain—when the music stops, Binance's chair remains firmly planted. The rest? Well, that's why they call it 'trading' and not 'winning.'

Demand for coins came from a mix of ETF buying and additional treasury expansion, in addition to whale accumulation. On Binance, however, deposits increased the reserves from 538K BTC to over 562K. 

Binance leads the pack with over $700B in July 

Binance remained the leader in centralized exchange activity, with $706B in total monthly activity. In the year to date, Binance saw its highest activity in January, as the market was still driven by the momentum of December’s price records. The exchange reached a peak of over $146B in trading volumes on July 18.

The exchange also got a boost from the series of records of the BNB token. The asset peaked at $858.34, boosting volumes and trading demand. The exchange kept its position following a successful Q2, as previously reported by Cryptopolitan. 

Despite the inflow of volumes, driven by whales and derivative trading, the Binance.com site took a step back. The site fell by six positions in the finance category, ranked 30th worldwide, while losing 64 positions in its overall ranking. 

The exchange also gained over 14% of its traffic from India, followed by 7.7% from the USA. In the past month, US-based traffic diminished the most, as traders shifted to other platforms. 

Ethereum drove the crypto exchange volume expansion on Binance

Despite this, Binance remains a staple of crypto activity, as it connects its centralized and decentralized trading. The exchange tapped the month’s stellar performance, but the markets still failed to reach peak exuberance levels. 

Binance’s derivative trading was among the major factors for the exchange’s performance. In July, open interest on the exchange ROSE from $28B to over $36B.

For that period, the ETH perpetual futures had the biggest share, surpassing even BTC. 

The ETH/USDT market pair made up over 25% of all derivative trades, with around 19.5% for BTC. USDT was the key crypto token boosting derivative activity, with over 79% of total volumes. 

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