Volumes across major markets for bitcoin futures hit $1.73 trillion in August, representing an increase from July, according to data collected by The Block Research.

The August figure represents a 17 percent increase from July's $1.47 trillion in futures volume. The futures market's peak occurred in May, when volumes reached $2.56 trillion. As shown in the chart, Binance once again took the most market share for bitcoin futures during August.

Meanwhile, bitcoin options volume also increased between July and August, rising from $10.72 billion to $17.79 billion, a 66% increase. The vast majority of trading volume occurred on Deribit.