Volatility returned to the cryptocurrency markets in August. Bitcoin and Ethereum closed the month at $20,050 and $1,554, falling 14.0% and 7.47% respectively. This volatility was reflected in the trading volume as spot trading on centralised exchanges jumped 36.8% to $1.91tn.

• Spot trading volumes spiked 36.8% in August to $1.91tn - marking August as the second largest month by spot volume so far this year.
• Although derivative markets saw a decline in market share, derivatives trading volumes across all centralised crypto exchanges increased 1.91% to $3.16tn, registering its first rise in three months. Historically, the derivatives market has dominated crypto trading volumes.
• The aggregate volume of BTC and ETH futures contracts on the CME fell 20.7% to $28.9bn in August. This is the lowest volume recorded for the exchange since December 2020.