The exchange trading volume increased by 16% month-over-month between August and September. This was the first significant jump in crypto trading volume since May and April of this year.
The Block’s Data Dashboard shows that September’s trading volume saw its first significant increase since May this year.
September’s exchange volume increased by 16% to $733 billion.
Block’s Legitimate Voltage Index reported volumes of $629 Billion for June, $633 Billion for July, and $630 Billion for August.
After the May crypto market crash, 2022’s summer witnessed relatively low monthly volumes for crypto-exchanges.
These volumes were recorded during a turbulent period in the crypto market.
May saw the fall of Terra’s ecosystem. During this time, TerraUSD (UST), was de-pegged from U.S. dollars and the price for governance token LUNA dropped 97%. The crypto industry was affected by the collapse, including NFTs and cryptocurrency miners.