Crypto derivatives trading volume hit $3.51 trillion in August, a 15.9% jump from July’s $3.03 trillion. The rebound comes after July posted the lowest derivatives volume in 32 months, a drought that had traders wondering whether the perpetual futures casino was finally losing its appeal.
Ten of the twelve exchanges tracked in WuBlockchain’s monthly report posted month-over-month volume gains, suggesting the recovery wasn’t limited to one or two dominant players.
Binance’s grip on the market
Binance once again sat comfortably atop the leaderboard with $1.67 trillion in derivatives volume. That translates to a 47.7% market share, meaning nearly half of all crypto derivatives activity flowed through a single exchange.
OKX came in second with $636.6 billion, good for 18.2% of the market. Bybit rounded out the podium at $312.8 billion, capturing 8.9%.
