Exchange activity accelerated alongside Bitcoin’s rally toward $80K, with derivatives positioning, whale inflows and spot-market deposits all increasing as market participation broadened.

Spot trading activity accelerated sharply with Bitcoin’s rally toward $80K, with daily volume rising roughly 3–4x from early-August lows; Binance remained the dominant venue and captured the largest share of the increase, while Coinbase and MEXC also saw meaningful gains.

Binance captured the largest share of the rally-driven increase in activity, accounting for the biggest gains in both Bitcoin and Ethereum open interest and some of the largest Bitcoin whale inflows.

Leverage expanded materially across BTC and ETH markets, with 24-hour open interest changes reaching roughly $1 billion for Bitcoin and $1.0–1.2 billion for Ethereum at peak periods, indicating increased leveraged positioning as prices moved higher.

Large holders became more active on exchanges, with hourly Bitcoin whale inflows repeatedly exceeding 2,000 BTC, while the average Bitcoin deposit size on Binance rose from roughly 20–30 BTC to more than 50 BTC, with peaks near 75 BTC.

The rally also spread into altcoins, as 7-day cumulative altcoin exchange deposit transactions increased from roughly 15K–20K to around 45K, a 2–3x increase, suggesting that improving sentiment is beginning to translate into broader trading activity beyond Bitcoin.

Written by CQ Research