The crypto exchange underwent a significant shift in August 2023, as the combined volume of exchanges and derivatives on DEX collapsed by 11.5 percent to $2.09 trillion.
This drop marked the lowest monthly combined exchange volume recorded this year, reflecting the influence of price fluctuations and culminating in the largest long liquidation event since the FTX collapse.
Notably, this performance represents the second lowest combined volume on centralised exchanges since October 2020.
In this article, we look at the key points and notable developments that occurred in the cryptocurrency trading landscape during this pivotal month.
Falling trading volumes on crypto exchanges in August results do not bring good news
Spot trading volumes on centralised exchanges declined for the second consecutive month, falling 7.78% to a total of $475 billion.
This contraction in spot trading activity marked the lowest monthly spot trading volume recorded since March 2019.
To illustrate the
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