Major Spot Exchanges Traded 30% More in August
CryptoNewsTerminal Staff10 Sep, 2024
Major Spot Exchanges Traded 30% More in August
According to a report by the cryptocurrency media outlet U.Today, the top spot exchanges experienced a significant surge in trading volume during August, with a 30% increase compared to the previous month. Binance, the largest spot exchange, saw an impressive 35.1% growth in trading volume, reaching $45.49 billion. Bybit and Crypto.com followed closely behind, with growth rates of 41.5% and 78.8%, respectively. The report also noted the performance of Upbit, which ranked 11th out of 13 major exchanges. Despite its lower ranking, Upbit achieved a still-impressive 16.5% month-over-month increase in trading volume, reaching $44.8 billion. The cumulative trading volume for the 13 major exchanges in August was a staggering $1.21 trillion, a testament to the growing popularity and adoption of cryptocurrencies.
