CryptoQuant: Cryptocurrency trading volume surged in August, possibly marking the end of the bearish downtrend

According to a report by CryptoQuant, cryptocurrency trading volume made a strong comeback in August. After falling to multi-year lows during the bear market, both spot and perpetual contract trading volumes surged significantly on August 21 with the price rebound. The daily spot trading volume reached approximately $75 billion, the highest since February, with Binance leading at $19.4 billion, Coinbase at $8 billion, and Gate at $5.1 billion. The daily perpetual contract trading volume reached about $336 billion, the highest since March, with Binance leading at $124 billion, OKX at $46 billion, and MEXC at $30 billion.

The report noted that this increase in volume was due to buying rather than selling—previous spikes in trading volume this year were accompanied by sell-offs, while this time coincided with Bitcoin rising 24%, indicating a shift in market sentiment towards bullishness. The 30-day trading volume growth rate was the fastest since 2026, with Gate's spot volume increasing by 667% and Coinbase by 429%; in terms of perpetual contracts, Binance grew by 202% and Bybit by 184%. The report suggests that the rebound in trading volume may signal the end of the bear market downtrend.