Data: Institutional investors' crypto spot trading volume increased by 95% year-on-year in the first half of the year

BlockBeats news, July 22, according to a recent report by Finery Markets, the institutional cryptocurrency market experienced significant growth in the first half of 2024, with total spot trading volume soaring 95% year-on-year.

The report pointed out that the first half of 2024 is a critical period for institutional adoption of cryptocurrencies. Bitcoin ETFs have been launched in Australia, the United States, and Hong Kong. VanEck's application for Solana ETF highlights the growing trend of diversification of cryptocurrency investment tools.

In addition, despite low institutional participation, some altcoins such as TRX and BNB have shown substantial growth, with spot trading volumes increasing by 202% and 129% year-on-year, respectively. In contrast, Ripple (XRP) fell 18% year-on-year.