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Crypto exchange volumes double in five days as activity rebounds

Exchange volume jumped through $37 billion last week, after hitting a yearly low, while August monthly traded volume reached $490 billion versus $670 billion in July.

Reported · Written up by our desk · Market Structure

Crypto exchange volumes rebounded sharply, with weekly exchange volume doubling in just five days as activity lifted off the yearly low, according to data summarized by The Block. The outlet said exchange volume moved through more than $37 billion last week, even though that level remains far below the 12-month high of $105 billion set shortly after the 10/10 liquidations. On a monthly basis, The Block reported $490 billion traded so far in August compared with $670 billion in July.

The Block also noted that spot exchange demand is now split with spot crypto ETFs, a structural shift versus prior cycles when CEX demand was largely funneled through centralized venues. It added that the rise of crypto ETFs and digital asset treasuries could act as a headwind to CEX volume, even as these TradFi-linked instruments expand derivatives and optionality.

The Block pointed to other competitors for CEX volume, including increased adoption of decentralized exchange options such as Hyperliquid and Lighter. It said Bitcoin and Ethereum gained more than 23% and 30%, respectively, last week, while total crypto market capitalization excluding BTC and ETH rose by about 13% over the same period.

Latest closeBitcoin $78,839.88 ▲1.4%|Ethereum $2,470.08 ▲0.2%

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