Crypto exchange spot volumes edge down to $1.67 trillion in September, lowest since June
Quick Take
- Monthly spot trading volume across centralized crypto exchanges fell to $1.67 trillion in September, the lowest level since June.
- Binance maintained its position as the largest exchange, recording $637 billion in trading volume in September, compared with $737 billion in August.
Crypto exchanges' monthly spot volume came down to $1.67 trillion in September, marking the lowest level since June.
The Block's data dashboard shows that September's exchange volume declined 9.7% from $1.85 trillion in August, marking the weakest month since June's $1.1 trillion.
Specifically, Binance maintained its position as the largest exchange, recording $636.5 billion in trading volume in September, compared with $737.1 billion in August.
Bybit recorded the second-largest trading volume among exchanges at $132.1 billion, followed by Gate.io with $124 billion and Bitget with $117.9 billion.
Meanwhile, decentralized exchange volume slipped slightly in September to $363.4 billion from August's $368.8 billion, according to The Block's data. Uniswap's volume dropped to $106.5 billion from $143 billion, while PancakeSwap climbed to $79.8 billion from $58.7 billion.
While exchanges saw a decline in trading volume in September, spot bitcoin exchange-traded funds experienced a shift from net outflows to net inflows. U.S. spot bitcoin ETFs recorded a monthly net inflow of $3.53 billion in September, compared to a net outflow of $751.1 million in August, according to SoSoValue data.
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