Volume on centralized exchanges, DEXs ticked down in August

Quick Take

  • Centralized volume on legitimate exchanges fell slightly in August compared with the month prior.
  • Binance remained the top centralized exchange in terms of market share. 

Volumes across both centralized exchanges as well as decentralized exchanges, or DEXs, fell in August compared with the month prior, data collected by The Block Research show.

As TBR’s Lars Hoffmann noted in his monthly digest, volume for August hit $630.3 billion, according to The Block’s legitimate volume index. That figure reflects a slight decline compared to $632.7 billion in July.

 

 

Binance continued to be the dominant centralized exchange in terms of market share (69.5%) followed by Coinbase (9.3%) and FTX (7.8%).

Decentralized exchanges posted $53.9 billion in August volume, with Uniswap continuing to hold its market-dominant position.

 

The $53.9 billion figure represents a decrease month-over-month of 3.6%.

The ratio of volume on decentralized exchanges and centralized exchanges lost some ground in August, falling to 8.6%, Hoffmann’s report said.


© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.