Binance Leads Global Crypto Trading Volumes Surge as Rebound in August
After reaching a multi-month low in June, trading volumes on centralized cryptocurrency exchanges rebounded in August, continuing gains that started in July. According to The Block’s Data Dashboard, monthly spot market volumes on major international cryptocurrency exchanges, such as Binance and Coinbase, increased by 6.6% to $1.2 trillion in August from $1.12 trillion in July. With $448.45 billion in trading volume in August, Binance secured the greatest market share.
August saw an increase in the monthly trading volumes of Coinbase and other controlled exchanges that were evidently dominant in North America. The monthly spot market volumes for cryptocurrency exchanges that serve consumers based in North America increased by 21.6% from $137.17 billion in July to $166.84 billion in August. With a definite lead in North America, Crypto.com accounted for the biggest portion of exchange trade volume.
Bitcoin Dominates August Crypto Trading with $10.27B Daily Volume, Surpassing Ether
Reversing a fall that resulted in multi-month lows in June, The Block’s data for August shows an ongoing upward trend in trading volume across centralized exchanges throughout the summer. When bitcoin hit its all-time high of more than $73,000 in March of 2024, exchange trading volumes reached a height of $2.48 trillion.
Bitcoin trade volume still far outpaces ether’s, according to data from The Block. The daily trading volume of bitcoin on all major exchanges exceeded $10.27 billion, while the daily trading volume of ether was $6.52 billion as of yesterday, according to the 7-day moving average.
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