Crypto Trading Volume Drops to $1.67 Trillion in September, Lowest Since June
Crypto Trading Volume Drops in September
Trading activity on crypto exchanges fell in September 2025. Total spot trading volume reached $1.67 trillion, the lowest level since June.
According to data from The Block, the September volume dropped 9.7% from $1.85 trillion in August.
Binance remained the biggest exchange, recording $636.5 billion in trades — down from $737.1 billion in August. Bybit came second with $132.1 billion, followed by Gate.io at $124 billion, and Bitget with $117.9 billion.
Trading on decentralized exchanges (DEX) also slipped slightly to $363.4 billion, compared to $368.8 billion in August. On DEX platforms, Uniswap’s volume fell to $106.5 billion from $143 billion, while PancakeSwap increased to $79.8 billion from $58.7 billion.
Interestingly, while exchange activity slowed down, spot Bitcoin ETFs in the U.S. saw a rebound. They recorded $3.53 billion in net inflows in September, a strong turnaround from $751 million in net outflows in August, based on SoSoValue data.
