The trading volume was largely boosted by new TradFi institutions, along with the launch of the first spot Ether ETFs.
Crypto.com has surpassed Coinbase exchange in trading volume, boosted by a growing list of institutional clients and the launch of the first spot Ether exchange-traded funds (ETFs) in the United States.
Centralized crypto exchange (CEX) Crypto.com saw a 23% increase in reported 24-hour trading volume, which rose to $3.16 billion on Aug. 1, surpassing Coinbase’s $2.12 billion, according to Messari data.
The increase in trading volume is mainly due to the exchange’s growing list of institutional clients, according to Giuseppe Giuliani, the managing director of Crypto.com.
