CandleFocus Crypto exchange volume in August surged 30% MoM
2024-09-10
Author: Content Editor
Despite the decline in crypto prices, centralized exchange volumes experienced a 30% increase in August. Binance and Bybit led the major centralized exchanges, while KuCoin, Crypto.com, and MEXC showed even stronger performance. Gate saw a decline in activity. The increase in trading volume may indicate optimism among digital asset investors, potentially driven by expectations of interest rate cuts by the U.S. Federal Reserve. Experts suggest that this liquidity could lead to price progression for Bitcoin, with altcoins underperforming relative to BTC. The market is expected to remain soft in September, with Bitcoin dominance increasing.
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