VBIT Hong Kong
CCData's monthly report recorded a second consecutive month of significant growth in trading activity on centralised cryptocurrency exchanges.
Combined spot and derivatives volume grew 5.38% in August to $5.22 trillion. Volatility was a main driver, particularly the unwinding of yen carry trades, which put selling pressure on traditional markets and digital assets.
Centralised exchange spot volume rose 7.06% to $1.54 trillion, its highest since May.
Derivatives volume rose 4.70% to $3.68 trillion, also the highest since May. The report noted that falling August prices triggered large-scale liquidations.
Total open interest on derivatives exchanges fell 15.7% to $45.8 billion.
Crypto.com stood out with a sharp market-share increase. Spot volume surged more than 38% to $95.6 billion, its highest since 2022, while derivatives volume reached a record $104 billion.
Coinbase International also performed strongly, with derivatives volume up 106% to $58.2 billion.
CME derivatives volume fell 1.16%. Ethereum futures and options volumes declined 28.7% and 37% respectively, interpreted as weaker institutional interest in Ethereum.
CME Bitcoin futures volume rose 3.74% to $104 billion, while Bitcoin options volume fell 13.4% to $2.42 billion.
Global crypto funds continued to face outflows. US spot Bitcoin ETFs recorded six consecutive days of net outflows, including $37.29 million on 28 August.
Grayscale's GBTC, then the second-largest spot Bitcoin ETF, had the largest outflow at $34.25 million. Fidelity's FBTC and VanEck's HODL also saw substantial withdrawals.
US Ethereum ETFs likewise faced outflows. Grayscale's Ethereum Trust (ETHE) lost a net $40.63 million on 28 August, while its Ethereum Mini Trust (ETH) received $3.12 million.
Combined volume across nine Ethereum ETFs fell to $145.86 million from $163.5 million the previous day. The broader market saw $305 million withdrawn in the preceding week, reflecting investor caution.
Bitcoin accounted for most outflows at $319 million. Meanwhile, short-Bitcoin products, which profit from price declines, received inflows for a second week, totalling $4.4 million.
