Crypto Derivatives Lost Overall Market Share in March Despite Hitting Record High Trading Volume of $6.18T

Crypto derivatives trading experienced a surge in volumes in March, reaching a record high of $6.18 trillion, marking an 86.5% increase. However, despite this growth, the market share of crypto derivatives in total market activity declined for the sixth consecutive month to 67.8%, according to CCData. This shift can be attributed to the increasing popularity of spot trading, where cryptocurrencies are exchanged for immediate delivery. Spot trading volume saw a significant jump of 108% to $2.94 trillion, the highest monthly volume since May 2021. The combined spot and derivatives trading volume reached a record-breaking $9.12 trillion, reflecting a 92.9% increase. The decline in derivatives’ market share could be seen as positive news for crypto bulls as it may indicate a decrease in speculative activity and volatility in the market. In March, Bitcoin (BTC) rose by 16.6%, setting new record highs above $73,000.