Crypto exchange volume crosses $2 trillion in May — the highest ever in history

Crypto exchanges have seen more than $2 trillion in volume this month, according to The Block's Data Dashboard, setting a new record.

May is the fourth month in a row where such exchanges have seen more than $1 trillion in volume, according to The Block's legitimate volume index. The index takes data from the largest exchanges that are known to report trading data more accurately.

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Binance continues to be at the number one spot for crypto-to-crypto exchanges (its main exchange doesn't offer trading with USD). The exchange has seen nearly $1.5 trillion worth of trading volume so far this month.

Coinbase, on the other hand, remains the top fiat-to-crypto exchange. It has seen more than $198 billion worth of trading volume , according to The Block's Data Dashboard.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.