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Crypto Market Rally: PancakeSwap Tops $188 Billion in July Volume
Crypto Market Rally– July witnessed a dramatic surge in cryptocurrency exchange trading volume, reaching $1.71 trillion — the highest since February’s $1.77 trillion peak. This 55% jump from June’s $1.1 trillion signals renewed investor confidence amid a broad crypto market rally.
Binance Leads with Record Trading Activity
Binance solidified its position as the market leader, posting an impressive $683.4 billion in trading volume for July. This marks a sharp increase from June’s $436.2 billion and is Binance’s strongest monthly performance since January’s $801.1 billion. Following Binance, Bitget recorded $126.1 billion, Bybit $122.3 billion, and Upbit $110.2 billion, highlighting strong activity across major centralized exchanges.
Market Rally Boosts Trading and Token Prices
The surge in exchange volumes coincided with significant price gains across top cryptocurrencies. Bitcoin closed July at an all-time monthly high near $115,644, up 7.5% from early July levels. Ether outperformed with a striking 49.5% rise, reflecting growing demand for decentralized finance (DeFi) and NFT platforms running on Ethereum.
Decentralized Exchanges Also Experience Growth
Decentralized exchanges (DEXs) mirrored this upward trend, with total volume hitting $435.3 billion in July — the strongest since January. PancakeSwap led the DEX segment, boasting $188.6 billion in volume, showcasing growing user interest in decentralized trading alternatives.
