September's trading volumes saw the first notable increase since May of this year, The Block’s Data Dashboard shows.
September’s exchange trading volume jumped to $733 billion, or a 16% month-over-month increase.
The Block's Legitimate Volume Index reported volumes of $629 billion for June, $633 billion for July and $630 billion for August.
Following the crypto market decline that started in May, 2022's summer saw relatively stagnant monthly volumes for crypto exchanges.
Those volumes occurred during a tumultuous period for the crypto market.
May saw the collapse of the Terra ecosystem, during which the stablecoin TerraUSD (UST) de-pegged from the U.S. dollar and the price of governance token LUNA fell 97%. The collapse's impact cascaded across the crypto industry, affecting NFTs and crypto miners, among other areas.
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