Bullish's spot trading volume surpasses Coinbase, making it the world's third-largest cryptocurrency exchange.

CoinFeed reported on March 12th, citing CoinDesk, that data shows institutional-grade crypto exchange Bullish entered the top three centralized exchanges in spot trading volume for the first time in February, surpassing Coinbase. Bullish's spot trading volume increased by 62.6% month-over-month to $76 billion, the highest monthly total since October last year; its market share rose to 5.06%, exceeding Coinbase's 4.59%. Bullish went public on the New York Stock Exchange last year. Despite Bullish's increased share, overall centralized exchange activity declined. Total spot and derivatives trading volume fell by 2.41% in February to $5.61 trillion, the lowest level since October last year. Binance still holds the top spot with a 22% market share, but its dominance has fallen to its lowest level since October 2020, indicating that trading activity is dispersing to more competing platforms.