▪️The Block’s Legitimate Index put up $626.3 billion in volume, compared to $622.4 billion in June. This marks only a 0.6% increase.

▪️ A similar pattern follows for fiat exchange volume and crypto-only exchange volume, both of which saw no major change in volumes from June to July.

▪️ Given this past month’s price surge, it might seem as though exchange action is declining since the two months saw similar volumes. However, most prices severely took a hit in mid-June, and while prices have been rising, neither BTC nor ETH are where they were on June 1st. So, while June did mark a decline in the USD value of most assets, the growth we’ve seen in July is less aggressive than the downfall we saw in June.