Binance’s monthly futures trading volume rose to $1.6 trillion, its highest level this year, CryptoQuant analyst JA Maartun said. He said the pickup came even as market sentiment stayed cautious, Bitcoin traded in the mid-$60,000 range, Europe adapted to MiCA rules, and summer conditions were typically slower. The combination suggests traders were still actively positioning in derivatives markets despite restrained spot price action and a mixed regulatory and seasonal backdrop.