Crypto Exchange Trading Volumes Continued Upward Trend in August

Trading volumes on centralized cryptocurrency exchanges increased in August, extending the growth that began in July after hitting a multi-month low in June.

• August saw a 6.6% increase in trading volumes on centralized cryptocurrency exchanges, totaling $1.2 trillion, up from $1.12 trillion in July.
• Binance had the largest market share with a trading volume of $448.45 billion in August.
• North American-based exchanges like Coinbase saw a significant rise, with volumes reaching $166.84 billion, a 21.6% increase from July.
• Crypto.com's trading volume in North America increased to $95.77 billion, capturing the largest share on exchanges.
• Bitcoin's trading volume continues to surpass Ether's, with a 7-day moving average of $10.27 billion vs. $6.52 billion for Ether.

The Block's data for August reflects a continued upward trend in trading volume across centralized exchanges throughout the summer, reversing a decline that led to multi-month lows in June.