August spot exchange volume breaks $1 trillion for first time since May
September 2, 2021, 9:55AM EDT
1 min read
Legitimate spot exchange volume for cryptocurrencies reached $1.07 trillion in August, according to data from The Block Research.
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.
Post-trade in capital markets today operates primarily based on provision of balance-sheet to off-set counterparty risk, either directly or indirectly, via settlement agents, CCPs and CSDs etc. The issues with this ‘hub and spoke’ model are well known, including the resulting massive duplication of data, bifurcated processes, concentration of risk and subsequent deployment of capital and resources that could be better utilized.
On this episode of The Scoop, eToro's newly appointed US lead Lule Demmissie explained why she doesn't see retail's newfound presence in the market subsiding anytime soon and how eToro plans to capitalize on growing the business across cryptocurrencies and stock trading.