Crypto Volume Rebounds in Centralized and Decentralized Exchanges

The crypto market saw a strong comeback in both centralized and decentralized exchanges as most coins bounced back from recent lows. According to DeFi Llama data, DEX networks in Solana, Base, and Sui led the recovery, with Solana DEXes handling $7.13 billion in the last seven days.

Despite the recent rebound, the total volume handled in CEX and DEX networks in September was the lowest since February. DEX networks handled over $114 billion, down from $172 billion in the previous month, with Ethereum, Solana, and BNB Smart Chain leading the way. CEX volume also saw a decrease, with Binance, Bybit, OKX, and Coinbase being the top performers.

The recent rally in the crypto market was attributed to factors such as the Federal Reserve cutting interest rates, the Chinese government offering stimulus, and the release of Binance’s founder, Changpeng Zhao, from prison. Solana’s meme coins also saw a surge in value, with tokens like MOODENG and MOTHER experiencing significant price increases.

Aerodrome emerged as the most active DEX network in Base, handling over $2.66 billion in volume in the last seven days. Other top performers included PancakeSwap, Clober, Cetus, DeepBook, Turbos, and Kriya in Sui. Overall, the crypto market showed signs of recovery and resilience as most coins bounced back from recent lows.