August was definitely a very active month for the cryptocurrency industry. First of all, the rise experienced by Ethereum was later replaced by DeFi-based crypto money projects. The DeFi listings made by crypto money exchanges in order not to miss this trend, has literally added volume to the volume of both sides.
It seems that the volume of cryptocurrency exchanges broke a record in August, thanks to both DeFi protocols and Bitcoin, which rose to $ 12,500. According to information reported by CryptoCompare, the total volume of the leading spot cryptocurrency exchanges reached up to $ 944 billion in August. This means a 55% increase compared to July.
Binance Continues First Place
When looking at the competition between crypto money exchanges, it is seen that the leader of the last 3 months is definitely Binance. Behind Binance is Huobi Global, behind it is OKEx, and behind it is Coinbase, the leading US exchange. Although this is the case in the spot market, the volume in the futures market is slightly lower.
It is seen that the total volume of derivatives exchanges increased to $ 710 billion in August and broke a new record, albeit lower than the spot market. It can be said that the leader in this regard is the Huobi stock exchange and OKEx. Although the Bitcoin futures platform CME may not be the first, it is often second or third.
Although the August data points to a record, the month of September indicates a sharp decline from the beginning. Bitcoin and the general market decline that started on September 2 will definitely affect the volume of exchanges.