Trading volumes on centralized cryptocurrency exchanges continued to rise in August, building on the momentum from July after hitting recent low levels in June.
Increase in Trading Volumes
Global spot market volumes on major exchanges including Binance and Coinbase reached $1.2 trillion in August, a 6.6% increase from $1.12 trillion in July.
Binance Dominance
Binance maintained its market dominance by taking the largest share with a trading volume of $448.45 billion in August.
Growth in North America
The bullish trend was particularly strong among U.S.-based cryptocurrency exchanges, with monthly trading volumes on exchanges serving North American customers rising to $166.84 billion in August, a significant 21.6% increase from $137.17 billion in July.
The August data reflects a broader recovery in trading volumes on central exchanges over the summer, indicating ongoing interest and activity in the cryptocurrency market.
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