The daily trading volume of centralized cryptocurrency exchanges doubled to $37 billion within five days

According to data from The Block, the trading volume of centralized cryptocurrency exchanges (CEX) doubled within five days, rising from an annual low to over $37 billion, but still far below the peak of $105 billion reached after the massive liquidation event on October 10, 2025. CEX trading volume has reached $490 billion so far in August, down from $670 billion in July.

The report points out that the rise of spot ETFs and digital asset treasuries may weigh on CEX trading volume, but demand for altcoins will still flow to CEX due to advantages in listing speed, trading pair depth, and tools for small and medium market cap tokens. Bitcoin and Ethereum rose over 23% and 30% respectively last week, while the market cap of altcoins (excluding BTC and ETH) increased by about 13% during the same period. The popularity of DEXs like Hyperliquid and Lighter is also diverting CEX trading volume.