June 28 (Cointime) - Institutional involvement is driving an increase in crypto exchange trading volumes, with the seven day moving average for daily exchange volumes rising from $11 billion on May 26 to nearly $19.5 billion on June 26. However, daily exchange volumes are still significantly lower than their peak of over $150 billion during the previous crypto bull cycle.

The recent increase in trading volumes is attributed to institutions entering the space, with companies like BlackRock filing an application with the SEC for a spot Bitcoin ETF. This institutional activity is evident in LMAX Digital's healthy performance, with total notional volumes for Monday coming in at $415 million.