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Binance Ends March Capturing 30% of Crypto Spot Trading Market

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Crypto exchange, Binance has ended March, handling 30.2 percent of the total spot trading volume, according to a CryptoCompare report. The exchange witnessed a 15.7 percent monthly surge in the demand for its crypto spot trading services as total trading volume touched $490 billion.

Binance has long maintained its position as the largest global  cryptocurrency exchange  in terms of trading volume. At its peak in November 2021, the exchange captured 33.7 percent of the total crypto spot trading market.

The report further outlined that the spot trading volume on the top 15 cryptocurrency exchanges jumped by 4.23 percent in March when compared to the figures of the previous month.

While Binance saw a jump in the demand for its services, two of its key rivals, Coinbase and OKX, witnessed a drop of 11.7 percent and 26.4 percent in crypto spot trading volume activities.

Derivatives Demand Rebounds

Meanwhile, the crypto derivatives market also jumped by 4.58 percent last month. Trading activities with derivatives instruments showed positive growth after six months to reach $2.74 trillion in March. But it still remains significantly lower than the peak of $9.99 trillion in May 2021.

CME Group, the American exchange that offers crypto derivatives to institutions, reported monthly futures volume across  Bitcoin  and Ether markets totaling $48.7 billion, which was a marginal increase of 0.18 percent from the previous month. Demand for Bitcoin instruments dominated capturing 79.8 of the total, while the rest was for Ether instruments.

Moreover, derivatives trading volume captured 62.8 percent of all centralized crypto trading in March, higher than the spot market’s 37.2 percent share. “This was a welcomed increase in activity in derivatives markets, which had previously seen six straight months of decreased volumes,” the report stated.

Activities in both crypto spot and derivatives trading jumped last month as the price of Bitcoin Ethereum closed the month with a price increase of 5.4 percent and 12.4 percent, respectively. However, the prices of both the cryptocurrencies dropped since and is trading at $38,700 and $2,850, respectively, as of press time.

Crypto exchange, Binance has ended March, handling 30.2 percent of the total spot trading volume, according to a CryptoCompare report. The exchange witnessed a 15.7 percent monthly surge in the demand for its crypto spot trading services as total trading volume touched $490 billion.

Binance has long maintained its position as the largest global  cryptocurrency exchange  in terms of trading volume. At its peak in November 2021, the exchange captured 33.7 percent of the total crypto spot trading market.

The report further outlined that the spot trading volume on the top 15 cryptocurrency exchanges jumped by 4.23 percent in March when compared to the figures of the previous month.

While Binance saw a jump in the demand for its services, two of its key rivals, Coinbase and OKX, witnessed a drop of 11.7 percent and 26.4 percent in crypto spot trading volume activities.

Derivatives Demand Rebounds

Meanwhile, the crypto derivatives market also jumped by 4.58 percent last month. Trading activities with derivatives instruments showed positive growth after six months to reach $2.74 trillion in March. But it still remains significantly lower than the peak of $9.99 trillion in May 2021.

CME Group, the American exchange that offers crypto derivatives to institutions, reported monthly futures volume across  Bitcoin  and Ether markets totaling $48.7 billion, which was a marginal increase of 0.18 percent from the previous month. Demand for Bitcoin instruments dominated capturing 79.8 of the total, while the rest was for Ether instruments.

Moreover, derivatives trading volume captured 62.8 percent of all centralized crypto trading in March, higher than the spot market’s 37.2 percent share. “This was a welcomed increase in activity in derivatives markets, which had previously seen six straight months of decreased volumes,” the report stated.

Activities in both crypto spot and derivatives trading jumped last month as the price of Bitcoin Ethereum closed the month with a price increase of 5.4 percent and 12.4 percent, respectively. However, the prices of both the cryptocurrencies dropped since and is trading at $38,700 and $2,850, respectively, as of press time.



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