August Sees 30% Surge in Cryptocurrency Exchange Trading Volumes

In August, trading volumes on major centralized exchanges rose by 30%, according to journalist Colin Wu.

His observations indicate that the highest growth rates were recorded by KuCoin (171%), Crypto.com (79%), and MEXC (44%). The lowest performers were Gate (-44%), HTX (4%), and Upbit (17%).

According to The Block, the highest cumulative monthly trading volume over the past year was in March, reaching nearly $2.5 trillion.

In August, turnover on major cryptocurrency derivatives platforms increased by 32% compared to the previous month. MEXC (71%), Crypto.com (70%), and Deribit (47%) showed the best performance. The lowest were Bybit (26%), OKX (27%), and KuCoin (27%).

Overall traffic on top exchanges increased by 4% in August. MEXC (160%), Gate (24%), and Deribit (17%) contributed the most to this figure. Among the laggards were Bybit (-12%), Bitget (-10%), and Upbit (-9%).

Colin Wu emphasized that he sourced information from CoinGecko and SimilarWeb, though the data may be “significantly distorted due to bot activity.”

Earlier, CryptoQuant analysts noted a rapid influx of the stablecoin USDT to exchanges, which could positively impact the price of Bitcoin.