Volume traded on exchanges grows more than 60% in August and surpasses $1 trillion
The volume of the market’s main cryptocurrency exchanges rose again in August, breaking the $1 trillion barrier for the first time since May, according to data from The Block Research.
The result, which took into account the transactions in the 23 largest brokers in the sector, represents a growth of 63% compared to the spot negotiations in July, which were around $651 billion.
From February to May 2021, exchange volume remained above the $1 trillion mark, with May being the busiest month of the year. In that period, brokerages moved more than $2 trillion for the first time in history.
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The uptrend was halted in June when volume dropped to $958 billion. The falls intensified in July, when the volume reached the lowest level of the year of $651 billion.
Traders returned to trading on exchanges in August as the main cryptocurrencies in the market recovered their prices. Bitcoin, for example, managed to surpass the $50,000 mark for the first time since May and, in the last 30 days, has accumulated a gain of 28%.
The ethereum shows an even better performance in the monthly period, increasing 47%. This Friday (3), ether surpassed the $4,000 barrier for the first time in four months. At this rate, the currency only needs to rise about 8% to reach the historic high of $4,360.