Crypto Exchanges Trading Volume Increase for Second Month, Reaching $5.22T
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Centralized cryptocurrency exchanges witnessed a notable rise in trading activity for the second consecutive month, according to CCData’s latest monthly report.
Per the report, total spot and derivatives trading volumes grew by 5.38%, reaching $5.22 trillion in August.
The report attributes the increase in trading volume to heightened market volatility, driven by the unwinding of the Japanese Yen carry trade, which resulted in selling pressure across both traditional financial markets and digital assets.
Spot trading on centralized exchanges saw a 7.06% surge, hitting $1.54 trillion, the highest level since May.
Derivatives trading volumes followed a similar trend, increasing by 4.70% to $3.68 trillion, also the highest since May.
However, the report noted that August’s price downturn triggered a wave of liquidations.
Open interest across derivatives exchanges fell by 15.7%, settling at $45.8 billion.
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Spot and derivatives volume on CEXs climbed 5.38% to $5.22tn in August, the second consecutive month of increased crypto trading activity.
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