Daily trading volume on centralized crypto exchanges doubled over five days to more than $37 billion as digital-asset prices surged, yet remained well below the $105 billion 12-month high set after large-scale liquidations on Oct. 10, 2025, The Block reported on Aug. 24. August volume so far is about $490 billion, below July’s $670 billion. In this cycle, spot demand is spreading across Bitcoin and Ether spot ETFs, digital asset treasury companies, or DATs, and decentralized exchanges such as Hyperliquid and Lighter, alongside CEXs. Bitcoin and Ether rose more than 23% and 30% last week, while the market capitalization of other cryptocurrencies climbed about 13%. Altcoin trading is still expected to concentrate on CEXs, which can list smaller tokens quickly and offer broader pairs and tools. Analysts note that if markets keep growing, CEX, ETF, DAT and DEX infrastructures could all benefit from rising token demand.