Crypto exchanges's legitimate trading volumes surpassed $169B in September, according to The Block's legitimate volume index.
The index takes into account the trading volumes of 24 exchanges with volumes fully or largely recognized as real. Multiple major platforms, including Huobi, OKEx, Bithumb, Upbit, KuCoin and Coinfloor, have been excluded from the index due to this criterion.
September is the second month with the highest trading volume in 2020, only behind August.
The largest exchange in terms of trading is still Binance, with a volume of $113B, or 66.8% of the total. It is followed by Coinbase and LMAX Digital with 8% and 5.7%, respectively.
The trading volumes of decentralized exchanges exceeded $23B in September.
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