CryptoQuant: August crypto trading volume surge may signal end of bear market

According to a CryptoQuant report, cryptocurrency trading volumes saw a strong recovery in August, with spot and perpetual futures volumes surging on August 21 alongside price rebounds. Daily spot volume reached approximately $75 billion, led by Binance ($19.4 billion), Coinbase ($8 billion), and Gate ($5.1 billion). Perpetual futures daily volume hit $336 billion, with Binance leading at $124 billion, followed by OKX ($46 billion) and MEXC ($30 billion). Unlike previous spikes this year, this volume increase coincided with a 24% rise in Bitcoin, suggesting a shift to a bullish trend and potentially marking the end of the bear market.