Crypto trading volume in the spot market exceeded $1T in August

by in Cryptocurrency News

Crypto trading

For the first time since May 2021, the trading volume of digital currencies in the spot market exceeded $ 1 trillion, according to a review by the Block Research team. According to her, in August, the number of transactions with cryptocurrencies on exchanges reached about $ 1.07 trillion.

In June and July, trading volumes totaled only $ 956.1 billion and $ 651.2 billion, respectively. Growth was outlined at the end of summer. It was caused by another bitcoin run.

As a reminder, the largest digital currency performed very well in August. At the end of last month, there was a high activity of traders.

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Binance and Coinbase hold the leading positions in the spot market. These marketplaces processed just over 70% and 9% of digital asset transactions. Trading volume on decentralized platforms (DEX) in August was $ 82 billion.

The Block Research review also talks about the growth of the bitcoin futures market. Trading volume amounted to $ 1.73 trillion. Compared to July, the August figures increased by 17%.

The researchers remind that the crypto derivatives market peaked in May. Then the number of transactions with BTC futures amounted to $ 2.56 trillion. The Binance exchange here was also the leader in the activity of institutional investors.