Spot trading volume on the leading crypto exchanges fell by 21% over the month

The figure fell from $2,4 trillion to $1,7 trillion

12.03.2025 - 09:45

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What’s new? In February, spot trading volumes on the leading global centralized crypto exchanges (CEXs) fell by a cumulative 21% in February, from $2,4 trillion to $1,7 trillion, analyst Colin Wu said in a new report. Almost all platforms show negative results, except Bitfinex (+14%) and MEXC (+3%).

Colin Wu’s report

What else is known? The strongest drop in spot trading volume was recorded on Upbit, the largest crypto exchange in South Korea: the figure fell by 46%, from $185,8 billion to $100,3 billion. It is followed by Crypto. com (-29%) and Kraken (-27%).

A similar situation is observed in the derivatives market: the total volume of futures trading fell by 15,2% over the month, from $7 trillion to $5,95 trillion. Only MEXC (+7%) and Gate (+4%) showed growth, while the worst results were shown by Crypto. com (-27%), Kraken (-26%), and KuCoin (-25%).

Traffic also fell by 20%: the number of users who visited the websites of the main CEXs in February amounted to 248,6 million compared to 305,3 in January. Five out of 15 platforms showed growth here: HTX (+45%), OKX (+15%), Bitget (+6%), Bitfinex (+3%), and Bitmart (+2%).

The most popular among Russians was Bybit, whose total traffic fell from 26,1 million to 19 million: they accounted for 29% of all traffic. Also, 10% of traffic from Russia went to Deribit, 8% to HTX, and 5% to KuCoin.

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