Crypto Derivatives Experience Record Trading Volume of $6.18T in March, But Market Share Declines

In March, crypto derivatives trading experienced unprecedented growth, with trading volumes on centralized exchanges reaching a staggering $6.18 trillion, marking an 86.5% surge to a record high, according to data from CCData.

This surge, however, was accompanied by a decline in the market share of crypto derivatives, slipping to 67.8% of total market activity. This marks the sixth consecutive monthly decline in market share for derivatives, as traders increasingly turned to the spot market. 

Spot trading volume saw a significant uptick, jumping 108% to $2.94 trillion, the highest monthly volume since May 2021. The combined volume of spot and derivatives trading reached a record $9.12 trillion. 

CCData’s monthly report noted that the surge in spot trading activity on centralized exchanges coincided with Bitcoin reaching new all-time highs and the return of retail participants to the market. 

While derivatives trading volume continues to soar, the decline in its market share may be seen as positive news for crypto bulls anticipating a sustained price rally. Bitcoin, the leading cryptocurrency, surged 16.6% in March, reaching new record highs above $73,000 and posting a quarterly increase of over 68%.