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.
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