According to data aggregator Crypto Compare, spot trading volumes on cryptocurrency exchanges have exceeded $1 trillion for the second month in a row.
Transaction analysis showed that $1.17 trillion worth of digital assets changed hands in March, down 5% from February’s $1.23 trillion.
The leading position continues to be held by the Binance exchange, which accounted for 65% of total trading volume last month. Huobi came in second place with 18%, while OKEx came in third with 15%.
Exchange volume involving fiat in March was $406.5 billion, with the top three being Coinbase (22% of volume), Upbit (21%), and Kraken (11%).
Despite the high turnover figures, the data shows that most investors are not selling bitcoins, expecting further appreciation.