Crypto Volumes Surge in August; Binance Largest Spot Exchange As Huobi Leads Derivatives

Cryptocompare ‘s latest report shows August spot cryptocurrency traded volumes up 58.3 percent to $529 billion versus July figures by the 15 largest top-tier exchanges. On the other hand, the volumes of low-tier exchanges increased by 30.2 per cent to end the month of August with a total of $291 billion.

Binance leads the top tier list with volumes traded on its platforms having jumped by 83% overall to $129.9 billion. Huobi Global and Okex, which ranks second and third, recorded traded volumes valued at $65 billion and 64.7 billion respectively.

Meanwhile, monthly CME futures contract volumes increased by 36.3% since July to reach 203,867 contracts traded in August. In terms of total trading volume in August, “CME’s crypto derivatives volumes have increased 55.7% in line with many unregulated derivatives competitors to reach $12.02bn.”

At the same time, exchanges that “charge traditional taker fees represented 84% of total exchange volumes in August when compared to 82% in July.” Exchanges that “implement Trans-Fee Mining (TFM) represented less than 16%.”

In terms of value, “fee-charging exchanges traded a total of $685bn in August, a 50.13 percent increase since July, while those implementing TFM models traded $125bn up 53.94 percent from July.”

The BTC/USDT pair still represents the majority of bitcoin traded into fiat or stablecoin in August at 65%. Bitcoin’s proportion of total volume in July was 66%.

[image: deposit photos]

bitcoin
Bitcoin (BTC) $ 33,998.00 7.52%
ethereum
Ethereum (ETH) $ 1,986.94 5.88%
tether
Tether (USDT) $ 1.00 0.17%
binance-coin
Binance Coin (BNB) $ 288.94 8.28%
cardano
Cardano (ADA) $ 1.27 13.72%
xrp
XRP (XRP) $ 0.639807 9.24%
dogecoin
Dogecoin (DOGE) $ 0.216097 14.65%
usd-coin
USD Coin (USDC) $ 1.00 0.59%
polkadot
Polkadot (DOT) $ 16.14 6.30%
binance-usd
Binance USD (BUSD) $ 0.998504 1.36%
S&P 500  ^GSPC 
$4,246.44  $21.65  (0.51%)
Dow Jones Industrial Average  ^DJI 
$33,945.58  $68.61  (0.20%)
NASDAQ Composite  ^IXIC 
$14,253.27  $111.79  (0.79%)
Russell 2000  ^RUT 
$2,295.95  $9.85  (0.43%)
Crude Oil Aug 21  F*CL.NYM 
$73.49  $0.6400  (0.88%)
   
$0.0000  $0.0000  (0.00%)