Crypto trading volumes surge to $1.8T in August, 8-month high

Cryptocurrency spot trading volume hit $1.86 trillion in August, up 5% from July’s $1.77 trillion and the strongest level since January.

Binance maintained its market dominance in August with $737.1 billion in spot trading volume, up from $706.1 billion in July. That’s still short of Binance’s January peak of $801.1 billion.

The competition for second place was tight, with Bybit capturing $126.5 billion in volume while Bitget trailed closely at $126.1 billion, separated by just $400 million. This period also marked heightened institutional activity in Ethereum markets, driven in part by heightened institutional activity in Ethereum markets, with firms like SharpLink Gaming and BitMine increasing exposure.

Decentralized exchange volume reached $368.8 billion in August, the highest level since January. Uniswap led with $143 billion in trading volume, followed by PancakeSwap at $58.7 billion.

August’s trading data reflects crypto’s strong market performance that month. Bitcoin hit a new all-time high of $124,128 on August 14, 2025, according to CoinGecko. Ethereum also broke records, reaching $4,945.60 on August 24 and beating its previous 2021 peak. While other coins showed mixed results, several tokens, including POL (formerly MATIC), Mantle (MNT), and Chainlink (LINK), posted gains. The total crypto market cap briefly crossed $4 trillion.

The rally has since cooled, with the total crypto market cap sliding back under $4 trillion, with Bitcoin trading at $111,900 and Ethereum at around $4,360.