The Best Crypto Trading Month Since Feb 2018

Plus composability in action

Happy Monday, Blockfolians

The Lede

Well, there it is.

August was a massive month for crypto trading. Total volume of spot trading grew from $109.3B in July to $191.2B in August - a total month over month growth of 75%. That’s the highest monthly growth percentage since Feb 2018 - near the height of ICO mania.

Important to note is that this is only spot volume. Derivatives trading continues to grow in importance, as well. What’s more, decentralized exchanges continue to grow in significance.

It’s nice to see Bitcoin break out a little as we right this, but to be honest, the latest retrace felt very temporary given how strong the fundamentals seem.

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Highly Relevant Reading


Community Commentary

The DeFi vs. centralized app fight is going to be one to watch
 This is composability in action

A Really Big Number We Should Be Paying Attention To  

$8M

That’s the amount bZx was able to recover from an attack this weekend - the third to target them this year. WHO IS LEAVING MONEY THERE STILL!?


Final Thought

Ouch, but also yea.