May marked the first meaningful stabilization across crypto trading markets after several months of declining activity. Spot volume stopped falling, Futures trading returned to growth, and Perp DEXs recorded the strongest recovery among all major trading segments. This report analyzes Spot CEX, Futures, Perp DEX trading volumes, CEX listing activity, and the relationship between listings and broader market participation.
After several months of declining activity across crypto markets, May showed the first signs of stabilization. While Spot and Futures volumes stopped their prolonged slide, Perp DEXs led the recovery with the strongest month-over-month growth. However, the continued weakness in CEX listing activity suggests that market…
