Huo Xing Finance reports that on September 14, CryptoQuant released a report stating that on August 21, trading volumes in the cryptocurrency spot and perpetual futures markets surged simultaneously, with daily spot trading volume reaching approximately $75 billion—the highest level since February—and daily perpetual futures trading volume reaching approximately $336 billion, the highest since March. Unlike previous bull market phases, where volume spikes were often accompanied by price declines, this volume surge occurred amid a 24% rally in BTC, indicating that the increased trading activity was primarily driven by buying pressure. Meanwhile, as of August 25, the 30-day growth rates of spot and perpetual futures trading volumes across major exchanges all expanded significantly, signaling a broad recovery in market participation and leverage activity. CryptoQuant believes that the return of trading volume may indicate that the market is transitioning from the bear market downtrend into the early stages of a bull market.
CryptoQuant: Trading Volume Surges, Market May Enter Early Bull Phase
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Summary
Trading volume surged in late August, with spot and perpetual futures activity reaching notable levels. Spot trading volume hit $75 billion, one of the highest since February, while perpetual futures reached $336 billion, a new high since March. BTC rose 24% during the same period, indicating buy-side-driven trading activity. As of August 25, 30-day trading volume growth on major exchanges expanded, signaling a return of market participation. CryptoQuant views the increase in trading volume as a potential sign of a shift into early bull market conditions.
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