Cumulative monthly spot volume on centralized crypto exchanges more than doubled in March to reach nearly $2.5 trillion.
Trading volume subsequently surged in March, hitting $2.48 trillion — the first time it has reached such levels since November 2021, according to The Block’s data dashboard. However, it remains 40% lower than the all-time high monthly spot volume of $4.2 trillion recorded in May 2021. However, average daily trading volume has subsequently dropped sharply to $57.4 billion as of Tuesday.Binance currently dominates by monthly spot volume, registering $1.1 trillion in March alone — equivalent to a market share of 45.5%.
March’s figure is the second-highest bitcoin futures trading volume in history, surpassed only by the $2.8 trillion generated in May 2021, according to The Block’s data dashboard.