Trading volume on crypto exchanges recovers by 15% after two-year low

Trading volume on centralised crypto exchanges (CEX) recovered in August 2026 after a two-year low. Total spot volume rose to $811 billion, an increase of 15% compared with July. Most major exchanges are posting growth again, with Coinbase and KuCoin the strongest gainers of the month.

In brief:

• Spot volume on CEX platforms rose to $811 billion in August, 15% higher than in July.
• Binance remains by far the largest exchange, with a monthly volume of $227 billion.
• Coinbase and KuCoin showed the strongest growth of all major platforms.

Recovery after the weakest month in two years

In July, combined spot volume on centralised exchanges fell to its lowest level in two years. August shows a clear recovery: total volume rose to $811 billion. That is still considerably lower than the peaks of late 2024 and autumn 2025, when volume reached $2.6 trillion and $2.4 trillion respectively.

The CryptoRank chart shows that monthly volume has been on a downward trend for several months. From the December 2024 peak, the total gradually declined, with a temporary recovery in autumn 2025 and another decline towards mid-2026.

Binance dominant, Coinbase and KuCoin grow fastest

Binance was once again the largest exchange in August, with a spot volume of $227 billion, accounting for more than a quarter of the total. OKX follows at a distance with $48 billion, ahead of Bybit ($43 billion), Coinbase ($44 billion) and Gate ($41 billion).

Smaller platforms such as MEXC ($33 billion), KuCoin ($32 billion) and Crypto.com ($23 billion) complete the top ten. The category of other exchanges together accounts for $261 billion, almost a third of the total volume.

Coinbase and KuCoin clearly stood out in August in terms of growth pace. Whether that growth continues in September depends on broader market conditions and trading sentiment in the coming weeks.