May trading data shows stabilization in spot markets and a recovery in futures after three months of declines.
Cryptocurrency spot trading volumes steadied at $952 billion in May, halting a three-month slide. Futures volumes rose 4.4% month-over-month to $5.23 trillion, breaking a losing streak as market activity showed signs of recovery.
Perpetual decentralized exchange volumes surged 14.7% to $594 billion, reversing six months of declines. Centralized exchange listings dropped to 117, the second-lowest level in a year, reinforcing their role as a leading indicator for broader market trends.
The data suggests a potential shift in trader sentiment, though listing activity remains subdued compared to earlier in the year.