đ Crypto Exchange Volumes Surge in August, Reaching Highest Levels Since May
đ August saw a significant rebound in crypto exchange activity, with total spot volume for the top 10 centralized exchanges reaching $908 billion, a 5% increase from July. This marks the highest level since May 2024, despite being over 50% lower than March's record $2.1 trillion. Derivatives trading volume also rose to $3.68 trillion, up 4.70%. Binance maintained its lead with 49% market share, followed by Bybit at 17% and Huobi at 7%.
đ Year-over-year comparisons reveal dramatic growth, with average volumes up 155%. Bybit showed the most impressive gain, surging over 560% from $23 billion in August 2023 to $154 billion. Other exchanges like OKX, Coinbase, and Binance also posted triple-digit increases. Despite historically bearish trends in September, Bitcoin's price is currently holding steady around $60,000, suggesting continued market interest despite less attractive prices compared to earlier highs.
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