Total crypto exchange volume hits $1.7 trillion in July, highest since February

Crypto exchange volume amounted to $1.71 trillion in July, marking the highest volume since February.

The Block's data dashboard shows that the July exchange volume rose 55% from $1.1 trillion in June, nearing February's $1.77 trillion.

Specifically, Binance maintained the largest market share in July with $683.41 billion in trading volume, up from $436.24 billion in June and marking its highest level since January's $801.1 billion. 

Bitget followed with $126.05 billion in July, trailed by Bybit at $122.3 billion and Upbit at $110.21 billion. 

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The surge in July's exchange trading volume coincided with a broader crypto market rally. Bitcoin posted its highest monthly close in history at $115,644, gaining 7.5% from around $107,000 at the start of the month, according to The Block's price page. Ether saw an even sharper rise, jumping 49.5% over the same period.

Meanwhile, decentralized exchange volume reached $435.3 billion in July, the highest level since January, according to The Block's data dashboard. PancakeSwap led the pack with $188.6 billion in volume.