Centralized exchanges collectively handled $811 billion in spot trading volume in August, a 15% increase from July’s $705 billion, which had been the lowest in two years. Coinbase posted the strongest individual recovery with a 36% month-over-month surge, followed by KuCoin at 23% and Binance at 21%. Binance remains the dominant player with roughly 28% market share and $227 billion in spot volume. Bitcoin’s price rally of more than 30% in August served as the primary accelerant, with daily spot volumes reaching approximately $37 billion at mid-month peak activity. Despite this rebound, overall volumes still trail the peaks seen in early 2025, as spot ETFs and digital asset treasury products continue to absorb institutional capital that might otherwise flow through CEX order books.
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