CEX Perpetual Futures Volume Drops to $4 Trillion in July
Trading volume on centralized and decentralized exchanges hit multi-month lows as market activity slowed.

Perpetual futures trading volume across centralized cryptocurrency exchanges declined to roughly $4 trillion in July, marking the lowest level recorded since late 2023, according to market data.
Simultaneously, perpetual contract trading on decentralized finance (DeFi) platforms contracted, approaching a one-year low. The drop in derivatives volume reflects a broader deceleration in market activity across both centralized and decentralized venues during the period.
Marcus reports on digital assets, from spot ETF flows to protocol-level developments in DeFi. He pays particular attention to how institutional adoption is reshaping crypto market structure.
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