Crypto Trading Volumes Slump to $1.67 Trillion, Hitting Three-Month Low in September

Global cryptocurrency trading activity cooled in September, with spot volumes on centralized exchanges falling to $1.67 trillion—the lowest level since June. This represents a 9.7% decline from August’s $1.85 trillion, cementing September as the weakest month for trading in the third quarter.

Among the major platforms, Binance maintained its dominance as the largest exchange by volume, despite seeing a drop to $636.5 billion from $737.1 billion in August. Bybit secured the second position with $132.1 billion in volume, followed closely by Gate.io at $124 billion and Bitget at $117.9 billion.

The downturn was also felt in the decentralized finance (DeFi) sector. Total decentralized exchange (DEX) volume slipped slightly to $363.4 billion from $368.8 billion. Within that segment, Uniswap’s volume fell significantly to $106.5 billion, while PancakeSwap saw a notable increase, climbing to $79.8 billion.