Spot Volume Falls 5.1% as Derivatives Rise 4.2% in June
The split tells the story: retail-style spot flow cooled across the board while derivatives venues absorbed the risk migration, with Deribit's 26.6% jump leading the move.
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The split tells the story: retail-style spot flow cooled across the board while derivatives venues absorbed the risk migration, with Deribit's 26.6% jump leading the move.
Five straight weeks of decline have erased nearly half of June's turnover on Upbit, Bithumb and peers, with the weekly KRW figure now at a multi-year low.
Spot volume at $3T and futures at $15.7T mark the third straight quarter of decline, with new token listings also collapsing to a two-year low as the sector downturn deepens.
Binance alone accounts for nearly a third of the year's spot turnover, with the top five venues capturing roughly 55% of the market.