Centralized crypto exchanges recorded a pointy slowdown in spot exercise through the second quarter. Buying and selling quantity throughout the ten largest platforms fell 27.9% from $2.70 trillion to $1.95 trillion.
Might marked the weakest month of 2026, with spot turnover falling to $619 billion. Exercise recovered to $695 billion in June, however the enhance didn’t reverse the quarter's broader contraction.
Might Marks the Lowest Spot Buying and selling Month
April started the quarter with stronger exercise earlier than volumes weakened throughout Might. CoinGecko's chart exhibits month-to-month turnover staying close to $600 billion throughout Q2, effectively beneath January and February ranges close to $900 billion.
Might's $619 billion studying shaped the bottom month-to-month complete reported through the first half of 2026. June added about $76 billion in exercise, though quarterly turnover remained considerably beneath Q1.
Common each day crypto buying and selling quantity additionally fell 20.9% quarter over quarter to $93.1 billion. That decline accompanied weaker costs and lowered participation throughout main centralized spot markets.
Binance Retains Its Spot Market Lead
Binance maintained the most important share among the many high ten centralized exchanges, accounting for 38.7% of Q2 spot quantity. Bybit adopted with 10%, changing into the one different platform holding a double-digit quarterly share.
CoinGecko's month-to-month chart exhibits Binance main all through April, Might, and June. Its share remained effectively above each competing trade, regardless of the broader decline in buying and selling exercise.
MEXC recorded the steepest contraction among the many main platforms. Its quantity fell from $275.2 billion in Q1 to $121.2 billion in Q2, transferring its rating from second to seventh.
Crypto.com quantity dropped 40.9%, whereas KuCoin recorded a 38.5% decline. Change-level contractions ranged from about 5% to 56%, exhibiting uneven losses throughout the sector.
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Wider Market Weak spot Limits Spot Demand
Whole crypto market capitalization fell 12.6% throughout Q2, declining from $2.4 trillion to $2.1 trillion. June produced the quarter's largest breakdown and left the market roughly 52% beneath its October 2025 peak.
Stablecoin capitalization additionally declined for the primary time because the third quarter of 2023. Mixed provide fell $4.8 billion to $305.1 billion, whereas USDC misplaced $3.7 billion.
USDT moved in the other way, including $300 million and ending the quarter at $184.4 billion. Its stablecoin market share elevated to 60%.
Perpetual trade exercise confirmed a smaller processed decline than spot buying and selling. Prime platforms $12.7 trillion, down 10% from Q1, whereas month-to-month quantity stayed above $4 trillion.
Prediction markets additionally expanded throughout the identical interval. Notional quantity rose 48.7% to $113.8 billion, with June reaching a report $52.8 billion.
