Cryptocurrency spot trading has been rejected by another 22% in Q2 2025, which expands its collapse despite bullish market conditions, according to a new report.
After falling from $ 5.3 trillion in Q4 2024 to $ 4.6 trillion in Q1 2025, trade volumes in Crypto spot Centralized exchanges (CEX) Placed more than $ 3.6 trillion in Q2, the Crypto Analytics Platform Tokeninsight Says In the latest exchange report released Wednesday.
Continued falling to the market area comes in the middle of a drop in Altcoin Q2 trading and liquidity activity, which contrasts to being stable in the derivatives markets.
“Entrepreneurs have maintained their preference to Q1 for high-frequency derivatives trading amid market uncertainty, aimed at hearing risks and volatility,” the tokeninsight research team wrote in the report.
The mexc spot trades surge despite the general collapse
While the average day -to -day trade volume dropped by 23%, falling from $ 52 billion to Q1 to $ 40 billion in Q2, some exchanges increased their trading volumes in the area last quarter.
Mexc, that’s fast Appeared as a major CEX in recent yearsThe largest benefit to the trade market market was recorded in Q2 exchanges, rising by 2.7%. The only other exchange to see trading growth in the area is the bitget, with volumes of area arranging around 0.7%.
After two consecutive quarters of denial of trade volumes in the area, the market is expected to maintain this downward trajectory, according to tokeninsight.
“Due to the ongoing economic uncertainty, as well as limited liquidity and vulnerable trading activities in the Altcoin spot market, the amount of trading in the area in Q3 2025 is expected to remain covered, changing between $ 3 trillion and $ 3.5 trillion,” the report mentioned.
Crypto derivatives show being stable
While spots markets in CEX have fallen in the previous quarter, Crypto derivatives It has been proven quite resilient in price volatility.
During Q2 2025, the trading volume of derivatives cost $ 20.2 trillion – a slight 3.6% dip from $ 20.9 trillion in Q1. Despite moderate decline, numbers emphasize the ongoing impact of greater market correction, according to tokeninsight.
“Although the sentiment in the market briefly lifted in early April of the Federal Reserve’s decision to pause the rates increase, concerns over global economic slowdown and geopolitical tensions continue to lead the investor’s behavior,” tokeninsight said.
Bitcoin ETFs shine as the CEX volume decreases
In contrast to the CEXS dynamics in place and derivative market, crypto exchange-traded funds (ETFs) have experienced amazing growing in Q2, with major gives such as Posting Blackrock of a 370% flowing in flows Compared to the previous quarter.
Blackrock’s success comes amid a greater advances in global products exchanged by crypto exchange (ETP), which Attracted $ 17.8 billion in the first half of 2025. Nearly $ 15 billion of total flow came from Blackrock only, according to data from coinshares.
Related: Bitcoin, Ether ETFS clock second-largest flow day on record
Urged increased flow to bitcoin funds and Increasing corporate adoptionBitcoin’s price bouncing loudly in Q2, which fell 25% in the quarter, According to In coingecko. It marks a sharp return from the 12% decline recorded in Q1.
“Replace tokens remain closely tied to the Altcoin market, where trading and liquidity activity refused especially in the quarter – further weakening support for platform tokens,” concludes tokeninsight, increasing:
“Looking forward, the performance of exchange tokens is expected to remain different in Q3 2025.”
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