Major exchange spot volume fell in Feb. while derivatives rose slightly

Spot trading volume on major cryptocurrency exchanges decreased in February compared to the previous month, while derivatives trading volume saw a slight increase, according to a February 2026 exchange data report from Wu Blockchain. The report found that spot trading volume on major exchanges fell by approximately 11.5% month-over-month. The exchanges with the highest growth in volume were Bitfinex (+12.5%), OKX (+8.4%), and Coinbase (+5.1%). In contrast, Uniswap (-64%), HTX (-37%), and Binance (-16%) saw the largest decreases. Meanwhile, derivatives trading volume grew by about 0.7% from the previous month. Exchanges leading this increase included Hyperliquid (+24%), Gate.io (+20%), and Deribit (+19%).