[CEX Combined Trading Volume in July Dropped 23.9% Month-on-Month, Reaching the Lowest Level Since November 2023] According to the monthly report released by CoinDesk Research, the combined trading volume of centralized exchange (CEX) spot and derivatives markets in July fell to $3.76 trillion, a month-on-month decrease of 23.9%, marking the lowest level since November 2023. Among them, CEX spot trading volume dropped to $727 billion (down 31.2%), while CEX derivatives trading volume fell to $3.03 trillion (down 21.9%). Derivatives accounted for 80.6% of the total market trading volume, the highest since September 2023. Despite the overall decline in trading volume, the market share of DEX spot trading rose to a record high of 19.5%, while the futures market share increased to 14.9%, the highest since February. Uniswap led DEX spot activity with $53.4 billion, followed closely by PancakeSwap with $18.5 billion.