Crypto exchange volume crosses $2 trillion in May — the highest ever in history

Exchanges • May 31, 2021, 3:50AM EDT
UPDATED: May 31, 2021, 4:46AM EDT
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Crypto exchanges have seen more than $2 trillion in volume this month, according to The Block's Data Dashboard, setting a new record.

May is the fourth month in a row where such exchanges have seen more than $1 trillion in volume, according to The Block's legitimate volume index. The index takes data from the largest exchanges that are known to report trading data more accurately.

Binance continues to be at the number one spot for crypto-to-crypto exchanges (its main exchange doesn't offer trading with USD). The exchange has seen nearly $1.5 trillion worth of trading volume so far this month.

Coinbase, on the other hand, remains the top fiat-to-crypto exchange. It has seen more than $198 billion worth of trading volume , according to The Block's Data Dashboard.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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