The trading volume in the cryptocurrency market increased in June due to market volatility caused by lawsuits against Binance and Coinbase by the SEC, as well as positive sentiment from BlackRock’s ETF filing. According to CCData’s monthly exchange report, centralized exchanges saw a 14.2% increase in spot and derivatives trading volume, reaching $2.71 trillion. However, Binance, Binance.US, and Coinbase experienced a decline in their market share. Additionally, derivatives trading volume rose by 13.7% to $2.13 trillion, with Binance leading in this category. The report suggests that the increase in trading activity is due to institutional entities speculating on the SEC’s decision regarding multiple spot Bitcoin ETFs filings.
AI Sentiment: Positive