Crypto exchange volumes double in five days as market activity rebounds

Exchange volume has doubled in just five days last week, jumping off the yearly low and now trading through $37 billion.

While it may feel like a doubling in volume is super impressive, it's still a far cry from the 12-month high of $105 billion set shortly after the 10/10 liquidations.

Monthly volume tells a similar story, with $490 billion traded so far in August compared to $670 billion in July.

Worth remembering, spot CEX volume now has to share with spot ETFs this cycle, whereas previously all demand would be funneled through a CEX.

The rise of crypto ETFs and digital asset treasuries may prove to be a headwind to CEX volume.