Cryptocurrency Media The Block released the monthly trading volume for March of the centralized cryptocurrency exchange and the decentralized cryptocurrency exchange on the 4th. According to The Block, about 80 global centralized cryptocurrency exchanges produced about $1.7 trillion in trading volume during the month of March. This is a decrease of about $60 billion from the previous month’s trading volume of $1.23 trillion.
The volume of cryptocurrency-based transactions such as stable coins and the volume of cryptocurrency purchases in legal currency were also disclosed separately. The monthly cryptocurrency-based transaction volume in March recorded 1.18 trillion dollars, down 10 billion dollars from February. The top exchanges in cryptocurrency-based trading volume were Binance (about $753 billion), Huobi (about $210 billion), and OKEX (about $173 billion).
The monthly transaction volume of fiat currency-based cryptocurrency in March was $363.5 billion, down by $47.5 billion from February. As of March, the top three exchanges in fiat currency-based trading volume were Coinbase (about $87.3 billion), Upbit (about $83.3 billion), and Kraken (about $43.8 billion). In the case of Upbit, a domestic exchange, the trading volume in March increased significantly compared to the February trading volume (approximately $57 billion).
In March, the decentralized exchange, which combined 15 DeFi (decentralized finance) exchanges such as Uniswap, Swap, and Curve, was about $60.7 billion. Like the centralized exchange, the volume of transactions decreased compared to February (about $72.8 billion). As of March, the top exchanges in decentralized exchange volume were Uniswap (about $34.4 billion), Swap (about $10.1 billion), and Curve (about $5.1 billion).
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