Crypto exchange volume tops $1.8 trillion in August, highest monthly level since January

Crypto exchanges' monthly spot volume reached $1.86 trillion in August, the highest volume since January.

The Block's data dashboard shows that August's spot trading volume rose 5% from July's $1.77 trillion, marking the most substantial monthly activity since January.

Among exchanges, Binance maintained the largest market share in August, with its spot trading volume rising to $737.1 billion from $706.1 billion in July — its highest level since January's $801.1 billion.

Bybit followed with $126.5 billion in August trading volume, edging out Bitget's $126.1 billion.

The rise in August's exchange trading volume coincided with a shift in investor appetite toward Ethereum in the past few weeks. For example, U.S. spot Ethereum exchange-traded funds saw $3.87 billion in monthly inflows in August, while their bitcoin counterparts recorded monthly outflows of $751.1 million, according to SoSoValue data.

Meanwhile, decentralized exchange volume in August climbed to $368.8 billion, the highest level since January, according to The Block's data. Uniswap led with $143 billion, followed by PancakeSwap at $58.7 billion.