Exchange Review February 2026

Combined spot and derivatives trading volumes on centralized exchanges declined 2.41% to $5.61T, marking the lowest level of activity since October 2024.

  • March 11, 2026
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Exchange Review February 2026

Combined spot and derivatives trading volumes on centralized exchanges declined 2.41% to $5.61T, marking the lowest level of activity since October 2024.

  • March 11, 2026

Report Summary

  • Spot volumes fell 3.01% to $1.50T, while derivatives volumes declined 2.41% to $4.11T. 
  • Derivatives trading volumes on OKX rose 7.87% to $752B in February, marking the second consecutive monthly gain, with its market share climbing 1.74% to 18.3% - the highest level since July 2025.
  • Spot trading volumes on Bullish surged 62.6% to $76.0B in February, marking the exchange’s highest monthly volume since October 2025.

This report was updated on March 24, 2026, to include a footnote on the Key Findings page and to update the disclaimer.

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