Trading volumes on centralized cryptocurrency exchanges saw a nearly 20% drop in June, marking the third consecutive month of decline amid a stagnant market.

Spot trading on cryptocurrency exchanges continued to fall in June, as prices struggled to break the downtrend, leaving traders largely unfazed. Data from CCData reveals that total spot trading volume fell by 19.3% in June to $1.3 trillion, significantly down from March’s peak of nearly $3 trillion.

Open interest on derivatives exchanges also dropped in June by nearly 10% to $47.1 billion, largely due to a wave of liquidations triggered by a substantial drop in crypto prices. CCData says Coinbase saw a significant decline in its open interest of more than 52% to over $18.2 million, while Binance “maintained the biggest position” …