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Home»ADOPTION NEWS»Cryptocurrency Exchange Trading Volume Continues to Rise in August
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Cryptocurrency Exchange Trading Volume Continues to Rise in August

By Crypto FlexsSeptember 2, 20243 Mins Read
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Cryptocurrency Exchange Trading Volume Continues to Rise in August
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Exchange • September 2, 2024 6:56 AM EDT

Posted 1 minute earlier ~ in

Updated: September 2, 2024 7:01 AM EDT

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

According to The Block’s data dashboard, monthly spot market volume on global cryptocurrency exchanges, including Binance and Coinbase, reached $1.2 trillion in August, up 6.6% from $1.12 trillion in July. Binance had the largest market share in August, with $448.45 billion in volume.

US-based cryptocurrency exchange trading volumes increase

Monthly trading volume on centralized exchanges Exchanges that dominate North America, such as Coinbase, also saw gains in August. Monthly spot market volumes for North American-based cryptocurrency exchanges Customer numbers increased 21.6% to $166.84 billion in August from $137.17 billion in July.

Crypto.com has a clear lead in North America, taking the largest volume on exchanges. The exchange’s trading volume increased to $95.77 billion in August, according to The Block’s data dashboard.

Block’s August data shows a sustained upward trend in volumes on centralized exchanges throughout the summer, reversing a downward trend that had hit multi-month lows in June. In 2024, exchange volumes peaked at $2.48 trillion in March, coinciding with Bitcoin’s all-time high of $73,000.

Data from the block also shows that Bitcoin trading volume still significantly outpaces Ether. Yesterday, the seven-day moving average of daily Bitcoin trading volume across all major exchanges was $10.27 billion, while for Ether it was $6.52 billion.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, influential and timely information on the cryptocurrency industry. Current financial disclosures are as follows:

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Brian McGleenon is The Block’s UK-based market correspondent. He has worked as a financial journalist and producer for several news outlets including Fuji Television, The Independent, Yahoo Finance, The Evening Standard and The Daily Express for many years. Brian is also a screenwriter and producer, with one feature film produced by Northern Ireland Screen and one feature film in development. In addition to web3 and cryptocurrency development, he is interested in geopolitics, environmental issues, artificial intelligence and longevity research. Contact him at (email protected).
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