Bitget records almost $660B in Q1 futures trading volume amid surge at CEXs, Bitcoin rally in March

admin May 17, 2023

0 1 minute read

All major centralized exchanges are growth Bitfinex and Deribit posted triple-digit growth in end-March futures volume, while Bitget (BGB)report Futures trading volume in the first quarter was $658 billion.

Trading Volume Soars in March

Futures trading volume on cryptocurrency exchanges hit a record high. undulation March. According to WuBlockchain data, exchanges Bitfinex and Deribit recorded the highest increases in futures trading volume since February at 122.7% and 111.8% respectively, surpassing $3 billion and $27 billion.

Meanwhile, major exchange Binance saw its futures trading volume rise 47.7% in March, surpassing $1.75 trillion. Bitget recorded an increase of 20.6% in his March compared to his February, with futures trading volume he reached $248 billion.

Bitget’s futures trading volume was $685 billion at the end of the first quarter, reflecting a 27% quarter-on-quarter increase.

In terms of spot trading volume, Gate.io and Bybit spearheaded the expansion, recording 116.5% and 112.5% growth respectively compared to February, reaching $42 billion and $25 billion in March. Did.

During this time, Binance’s spot trading volume increased by 2.6% to reach nearly $600 billion. Bitget’s spot trading volume increased by 20.9% from his February to about $24 billion in March.

At the end of Q3, Bitget’s spot trading volume reached $59 billion, an 8% quarter-on-quarter growth.

Bitcoin soaring

Bitcoin (BTC) price began to surge in March for the first time in months, surpassing the $28,000 price level.

As altcoins began to record higher price gains than BTC, the market reacted positively to this and trading volumes also increased.

Exclusive crypto slate A March insight explored the nature of BTC’s rally and revealed that it was not caused by spots or derivatives. The article said this was “extremely healthy” and then explained that future growth could be expected.

Bitget recorded about $660 billion in Q1 futures trading volume amid CEX surge, March Bitcoin rally first appeared on CryptoSlate.