Centralized crypto exchange volume has rebounded sharply from its yearly low, according to data cited by ChainCatcher from The Block, but activity is still far below the extreme levels seen after the large-scale liquidation event on Oct. 10, 2025. The report said CEX trading volume more than doubled in five days to above $37 billion, compared with a post-liquidation peak of $105 billion.
For August so far, CEX volume stands at $490 billion, below July’s $670 billion. The Block’s report said the rise of spot ETFs and digital asset treasuries may be weighing on activity at centralized venues. At the same time, it argued that altcoin demand is still likely to flow through CEXs because of faster token listings, deeper trading pairs and broader tools for small- and mid-cap assets.
The report also pointed to growing competition from decentralized exchanges such as Hyperliquid and Lighter. On the market side, Bitcoin rose more than 23% last week, Ether gained more than 30%, and the altcoin market cap excluding BTC and ETH increased by about 13% over the same period.
Centralized crypto exchange trading volume doubled in five days from its yearly low to more than $37 billion, according to The Block data cited by ChainCatcher, though the figure remains far below the $105 billion peak recorded after the large-scale liquidation event on Oct. 10, 2025.
The report said CEX trading volume has reached $490 billion so far in August, compared with $670 billion in July.
According to the report, the rise of spot exchange-traded funds and digital asset treasuries may be weighing on trading activity at centralized exchanges. Even so, altcoin demand is still expected to head to CEXs because those platforms retain advantages in listing speed, trading-pair depth, and tools for small- and mid-cap tokens.
On price action, Bitcoin rose more than 23% last week and Ether gained more than 30%, while altcoin market capitalization excluding BTC and ETH climbed about 13% over the same period.
The report also said adoption of decentralized exchanges such as Hyperliquid and Lighter is diverting part of the volume away from CEXs.
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