Cryptocurrency exchanges, both centralized and decentralized, reported a slight decrease in trading volumes in March.
If in February, transactions worth $ 1.23 trillion were made on centralized sites, then in March this figure was $ 1.17 trillion. Thus, the decrease was 5%. Note that trading volumes on centralized exchanges exceed $ 1 trillion for the second month in a row.
The market leader remains the Binance exchange – 65% of transactions were made on it. Another 18% of trading volume was on Huobi, and only 15% on OKEx.
On centralized exchanges, transactions worth $ 406.51 billion were made in March. Here, the distribution of trading volume is more even – 22% of transactions were made on the Coinbase exchange, 21% on the Upbit platform and 11% on the Kraken platform.
Trading volumes on decentralized exchanges (DEX) in March totaled $ 67.32 billion, down 8.12% from February, and this is the first month since November 2020 that trading volumes declined.
The leader of the DEX sphere is the Uniswap platform, on which transactions for $ 41.02 billion were made. The Sushiswap and Curve protocols processed transactions for $ 10.06 and $ 5.08 billion, respectively. 0x and Bancor Network reported trading volumes of $ 4.76 billion and $ 2.59 billion, respectively.
At the end of March, it was reported that the volume of stablecoins on the wallets of cryptocurrency exchanges exceeded $ 10 billion – this is a record figure and a positive signal for Bitcoin.
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