[DigitalToday reporter Chi-gyu Hwang] Perpetual futures trading volume on centralised cryptocurrency exchanges fell to $4 trillion in July, the lowest in 31 months. Cointelegraph reported on Thursday that decentralised exchange perpetual futures volume also declined to $531 billion, the lowest level since June 2025.

Among centralised exchanges, Binance had the largest monthly perpetual futures trading volume in July at $1.4 trillion. OKX followed with $607 billion, and Bybit recorded $300 billion. Perpetual futures trading volume briefly recovered from April to June, but fell again across major exchanges in July.

Spot trading also declined. Daily cryptocurrency spot trading volume fell 23.6% to $13.6 billion on July 31 from $17.8 billion on July 1.

Decentralised exchange perpetual futures volume was tallied at $531 billion in July. That was down 21% from $676 billion in the previous month, June 2026. Decentralised exchange perpetual futures trading has been trending down since hitting $1.36 trillion in October 2025.

Open interest on decentralised exchanges also fell to $17.9 billion in July from $19.4 billion in September 2025. Open interest refers to the total value of contracts that have not yet been settled.

Hyperliquid recorded the largest volume among decentralised exchanges at $199 billion over the past 30 days. The share of tokenised real-world asset trading has increased on Hyperliquid.