TokenInsight: Q2 exchange volume hits $16.5 trillion as TradFi segment surges

Total exchange trading volume fell 8% quarter over quarter to $16.5 trillion in the second quarter, with spot volume rising and derivatives volume declining, according to a recent report by crypto information platform TokenInsight. The report said spot volume increased from $3.3 trillion in the previous quarter to $4.5 trillion, while derivatives volume fell from $14.6 trillion to $12 trillion. Binance remained the leader in spot trading with a 32.26% market share, followed by Bybit at 9.19%, Gate at 8.01% and OKX at 7.08%. In derivatives, the top four exchanges - Binance at 36.48%, OKX at 16.42%, Bybit at 10.05% and MEXC at 9.51% - accounted for more than 70% of the market. The report also found the fastest-growing exchange segment was traditional finance, or TradFi, including equities. TradFi perpetual futures volume rose from just $52 billion in January to $268 billion in June. Binance also ranked first by market share in the TradFi segment.