Exchanges· ★★★· neutral·

CryptoRank: CEX and DEX trading volumes both rebounded in September

  • —September volumes rose on both CEX and DEX venues
  • —DEX perpetuals: Aster +33%, Lighter +27% MoM
  • —Hyperliquid held roughly $210 billion in volume
  • —Q3: CEX spot -14%, CEX futures -10%, DEX perps -7%
Why it matters: Higher turnover does not equal fresh inflows; open interest, fees and liquidity depth are needed to judge durability.
Source: CoinDesk Japan