After months of choppy action, crypto trading desks finally had something to celebrate in August.
Spot volumes across major exchanges climbed to nearly $1.9 trillion, the busiest month since January and a sign that investor appetite is creeping back into the market.
Centralized Giants Back in Motion
Binance once again towered over rivals, clearing more than $737 billion worth of trades. That’s its strongest print in seven months, outpacing July by over $30 billion. The battle for second place was far closer: Bybit edged out Bitget with $126.5 billion compared to $126.1 billion.
Ethereum Steals the Spotlight
Much of the renewed energy has been tied to Ethereum. U.S. spot ETFs linked to the token attracted nearly $4 billion in inflows during the month, a sharp contrast to Bitcoin funds, which bled more than $750 million. The rotation shows how institutions are positioning ahead of Ethereum’s next growth phase, while Bitcoin is temporarily losing the spotlight.
DeFi Keeps Pace
It wasn’t just centralized platforms benefiting from the uptick. Decentralized protocols handled close to $369 billion in trades, also the strongest reading since January. Uniswap dominated the field with $143 billion in activity, followed by PancakeSwap at $58.7 billion.
A Market Shaking Off the Summer Lull
The synchronized rise in both centralized and decentralized venues suggests that August marked more than just a seasonal bump. With Ethereum attracting large-scale flows and exchanges regaining momentum, the stage may be set for an active close to the year.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/ethereum-etfs-fuel-biggest-crypto-trading-month-since-january/