Q1 exchange trading volume reached nearly $20.6T

Total exchange trading volume for the first quarter of this year reached $20.57 trillion, Wu Blockchain reported, citing data from CoinGlass. Spot trading volume accounted for $1.94 trillion, while derivatives trading volume was $18.63 trillion. Binance led the derivatives market with a 34.9% share, followed by OKX, Bybit, Gate.io, and Bitget. Additionally, the decentralized perpetual futures exchange (PerpDEX) Hyperliquid (HYPE) broke into the top 10. Wu Blockchain added that while overall volume has decreased, trading activity has been concentrated in derivatives and related platforms.