Trading volume on cryptocurrency exchanges continues to grow

Trading volume on centralized crypto exchanges like Binance and Coinbase increased by 8 percent in August, reaching $1.21 trillion. After a decline in volume between April and June, the trend now appears to be reversing.

Binance with the largest global market share

In recent months, fewer and fewer investors have been trading on centralized crypto exchanges, as shown by data from The Block’s dashboard. In March 2024, trading volume saw a significant rise to $2.48 trillion. However, by April, a downward trend followed, with trading volume decreasing by around 36 percent.

However, data from July and August suggest that the trend may be turning around. Trading volume increased by 8 percent in August to $1.21 trillion. Although this is still far from the yearly high in March, it could indicate that more investors will start trading on crypto exchanges again.

Binance holds the largest market share of the total trading volume on centralized exchanges, with a volume of approximately $448.45 billion.

Trading volume increase on a continental level

Trading volume on crypto exchanges dominating in Europe also increased, from $33.7 billion in July to $38.3 billion in August, a rise of nearly 14 percent. According to data from The Block, the exchange with the largest market share in Europe is Kraken, with $24.55 billion.

In North America, trading volume increased by nearly 22 percent, reaching $166.84 billion. The dominant exchanges in this region are Crypto.com and Coinbase, with volumes of $95.77 billion and $66.74 billion, respectively.

In Asia, trading volume rose comparatively less, by 7.2 percent, reaching $448.45 billion in August. According to The Block, Binance is the dominant crypto exchange in this region. In South America, trading volume increased by 11 percent to around $5.51 billion, with BTSE being the most used exchange according to The Block.