August spot exchange volume breaks $1 trillion for first time since May

Legitimate spot exchange volume for cryptocurrencies reached $1.07 trillion in August, according to data from The Block Research. 



Spot exchanges have remained under $1 trillion since June, during which volumes weighed in at $958.3 billion. July saw $651.2 billion. However, the month-over-month increase from July to August was 64% — enough to push spot exchanges above the trillion-dollar mark again.

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Binance once again boasts the majority of the market share, coming in at 70.1%. Coinbase followed with 9%, with FTX coming in next at 5.7%. 

Decentralized exchange volume reached $82 billion in August — up 34% from July, according to data from The Block Research. 

To see more figures from last month, check out The Block Research’s August by-the-numbers report.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.