CryptoQuant said in a report released on Sept. 14 that trading activity across the crypto market picked up sharply on Aug. 21, with both spot and perpetual futures volumes rising at the same time. According to the report, daily spot volume reached about $75 billion, marking one of the highest readings since February, while daily perpetual futures volume climbed to roughly $336 billion, the highest level since March. The firm said the latest surge differs from volume spikes often seen during bear-market declines because it happened while BTC was up 24%, suggesting the move was driven mainly by buying demand rather than forced selling. CryptoQuant also said that, as of Aug. 25, the 30-day growth rates of spot and perpetual trading volumes across major platforms had expanded noticeably, pointing to a broad recovery in market participation and leverage activity. Based on that shift, the firm said the return of volume may indicate the market is moving out of a bear-market downtrend and into an early bull-market stage.
CryptoQuant said in a report released on Sept. 14 that spot and perpetual futures trading volumes in the crypto market rebounded sharply on Aug. 21.
Daily spot volume reached about $75 billion, one of the highest levels since February. Daily perpetual futures volume rose to about $336 billion, a new high since March.
According to CryptoQuant, this jump in volume stands apart from earlier bear-market episodes, when volume spikes often came with price declines. This time, the increase took place while BTC was up 24%, which the firm said points to buying as the main driver of the move.
As of Aug. 25, the 30-day growth rates for both spot and perpetual trading volume across major exchanges had widened noticeably, the report said. CryptoQuant said that shows market participation and leverage activity are recovering across the board.
The firm added that the return of trading volume may signal that the market is shifting from a bear-market downturn into an early bull-market phase.
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