and
. We'll translate each paragraph. We need to maintain the meaning and tone. Use appropriate German crypto terms: "On-Chain" is used as is, "Spot" is used, "Blockchain" is used. We'll translate "spot Bitcoin trading" as "Spot-Bitcoin-Handel". "on-chain volume" as "On-Chain-Volumen". "settlement layer" as "Abrechnungsebene" or "Settlement-Layer". We'll keep "Base" as is.
We'll write the German content. Let's do it step by step.
Original content (our final version):
Base recorded $4 billion in spot Bitcoin trading in July, capturing half of all on-chain volume for the month. The figure, released this week, puts the platform at the center of the growing market for Bitcoin spot transactions settled directly on a blockchain. Spot trading means buying or selling Bitcoin for immediate delivery, as opposed to futures or options. On-chain volume counts trades that are recorded and settled on a public ledger, so they're visible to anyone. When a platform accounts for half of that volume, it's a strong signal about where liquidity is concentrating. The platform reported $4 billion in spot Bitcoin trades for July. That's a large number on its own, but the more telling metric is the share: it represents half of all Bitcoin volume recorded on-chain during the month. The numbers suggest that traders are choosing this venue for outright Bitcoin transactions rather than relying on other settlement methods. It's not clear from the data whether this is a one-month spike or a sustained trend. The platform hasn't said what drove the activity, and there's no breakdown of how many trades or who was buying. For a platform to move half of the on-chain volume in a single month is a marker of its influence. It means that when Bitcoin changes hands in a spot transaction that gets recorded on a blockchain, there's a good chance it's happening on Base. That concentration could be a sign of liquidity building, or it could be a temporary spike. The data alone doesn't tell us which. The other half of on-chain volume is spread across other venues, but the fact that one platform holds such a large slice is notable. It could point to a consolidation of trading activity, or it could simply reflect the platform's growing user base. Either way, the number is too big to ignore. The next monthly report will show whether July was a one-off or the start of a trend. If Base holds onto that share in August, it will cement its position as a major settlement layer for Bitcoin. If the number drops, the July figure might just be a blip. Either way, the platform has put a marker down. For now, the July data stands as a clear statement: spot Bitcoin trading is happening in large volume on Base, and the platform is now a name to watch in the on-chain trading space.The July Tally
Why the Share Matters
What to Watch
