Crypto exchanges saw trading volume break out of a prolonged bear-market slump in August, with spot activity reaching roughly $75 billion on August 21 and perpetual futures hitting about $336 billion, their highest since March. Binance handled $19.4 billion of that spot total, ahead of Coinbase at $8 billion and Gate at $5.1 billion. The spike differed from earlier ones by arriving during a 25% rally in Bitcoin and major coins, which CryptoQuant reads as genuine buying rather than exit demand. Bitcoin traded near $77,424 on September 14, and the coming weeks will determine whether August’s activity marks a regime change or a single leverage-driven burst.
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