Centralized crypto exchanges handled $811 billion in spot trading (buying and selling assets for immediate settlement) during August, up 15% from July’s $705 billion, which was the lowest level in two years. Coinbase led the recovery with a 36% month-over-month increase, followed by KuCoin at 23%. Binance remained the largest exchange by roughly 28% market share after its volume rose 21% to $227 billion. Most major platforms recorded double-digit gains, while Bitcoin’s price climbed more than 30% during August and daily spot volume reached approximately $37 billion at midmonth. Activity also increased in futures and perpetual decentralized exchanges. Despite the rebound, volumes remained below peaks seen in 2025. Spot ETFs and digital asset treasury products are diverting some institutional demand from centralized exchange order books, particularly for Bitcoin and Ethereum, while altcoin demand continues to support centralized platforms because new token listings still primarily seek their liquidity and visibility.