Crypto exchange volumes grew 16% in September after a 3-month lull

Quick Take

  • Month-over-month exchange trading volumes increased 16% between August and September. 
  • It was the first notable jump in crypto exchange trading volume since April and May of this year. 

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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