Month-to-month volumes for each bitcoin spot and futures fell sharply in June, by 31.98% and 40.39%, respectively, in keeping with knowledge collected by The Block.
The decline of the bitcoin market coincided with a major enhance in buying and selling volumes of Ethereum-based decentralized exchanges (DEXs). Information collected from Dune Analytics reveals that DEXs posted a month-to-month quantity of $1.51 billion for June, a 70% enhance from Might. This growth additionally represents a 46% bounce over the earlier all-time excessive in March.
The alternative actions of buying and selling volumes on DEXs and bitcoin centralized exchanges (CEXs) additionally pushed the ratio between the 2 to an all-time excessive of two.1%. The launches of Balancer’s and Compound’s governance tokens in June boosted buying and selling volumes on AMMs equivalent to Uniswap and Curve.
In the meantime, bitcoin futures month-to-month volumes posted a substantial month-over-month decline, sliding by 40% from $557 billion in Might to $332 billion in June.
© 2020 The Block Crypto, Inc. All Rights Reserved. This text is offered for informational functions solely. It isn’t supplied or supposed for use as authorized, tax, funding, monetary, or different recommendation.