CandleFocus

Crypto Exchange Volumes Reach Highest Levels Since May, Top Performer Gains Over 560%

Despite a decline in Bitcoin prices in August, retail investor activity on centralized exchanges increased significantly. The total spot volume for the top 10 exchanges reached $910 billion, the highest since May 2024 but still 50% lower than the record-breaking March. Derivatives trading volume also rose to its highest level since May, reaching $3.68 trillion. Only two exchanges, Huobi and Upbit, experienced declines in trading volume, while others saw increases. Binance remained the top exchange, accounting for 49% of total turnover, followed by Bybit and Huobi. Year-over-year, exchange volumes showed significant growth, with Bybit leading the way. Despite historical trends of September being a bad month for Bitcoin prices, the price seems to be holding steady at around $60,000.

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