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

Sep 2, 2021 | The Block News | 0 comments


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

Legitimate volume on spot exchanges

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.

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. 

Volume on decentralized exchanges

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

© 2021 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.

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