Spot trading volume across 14 major cryptocurrency exchanges climbed to USD 696.7 billion in September 2026, according to data shared by WuBlockchain. That represents a sharp 36.5% month-over-month increase from the USD 510.4 billion recorded in August, signaling a renewed uptick in market participation.
Binance remained the dominant venue with USD 307.8 billion in spot volume, capturing 44.2% of the overall market share. OKX followed with USD 65.8 billion, and Coinbase posted USD 61.3 billion. Together, the top three exchanges accounted for 62.4% of total volume, a slight decline from 64.8% in August, indicating that trading activity broadened across other platforms. WuBlockchain noted that all 14 exchanges included in the report experienced month-over-month growth.
The rise in volume comes against a backdrop of mixed signals in broader crypto markets. Analysts cited potential macroeconomic drivers such as interest rate expectations and dollar strength as factors behind the heightened engagement. The increase may also point to improving liquidity, which could influence volatility and sentiment in the weeks ahead.
