TechFlow News, March 12: According to CoinDesk, Bullish (ticker: BLSH), a cryptocurrency exchange focused on institutional clients, reported a 62.6% month-on-month increase in spot trading volume for February, reaching $76 billion. Its market share rose to 5.06%, marking its first time entering the top three centralized exchanges by spot trading volume—surpassing Coinbase (market share: 4.59%).
Binance remains the leader with approximately 22% of the spot market share and a February spot trading volume of $331 billion. However, its market dominance has fallen to the lowest level since October 2020.
Notably, Bullish is CoinDesk’s parent company and went public on the New York Stock Exchange last year. Analysts suggest that centralized exchanges are intensifying competition across liquidity, trading incentives, and new product offerings; some platforms have already partnered with major U.S. securities exchanges to launch tokenized securities or prediction market trading services.
