Crypto exchange volumes grew 16% in September after a 3-month lull
September’s trading volumes saw the first notable increase since May of this year, The Block’s Data Dashboard shows.
September’s exchange trading volume jumped to $733 billion, or a 16% month-over-month increase.
The Block’s Legitimate Volume Index reported volumes of $629 billion for June, $633 billion for July and $630 billion for August.
Following the crypto market decline that started in May, 2022’s summer saw relatively stagnant monthly volumes for crypto exchanges.
Those volumes occurred during a tumultuous period for the crypto market.
May saw the collapse of the Terra ecosystem, during which the stablecoin TerraUSD (UST) de-pegged from the U.S. dollar and the price of governance token LUNA fell 97%. The collapse’s impact cascaded across the crypto industry, affecting NFTs and crypto miners, among other areas.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: MK Manoylov
