- Spot trading volume reached USD 76 billion in February, ranking third globally by spot volume.
- Leading crypto market makers, quantitative trading firms and algorithmic funds accounted for 98% of February activity.
- At USD 100,000 trade sizes, the BTC-USDC order book depth at 1% price impact was nearly twice as deep as Binance.
- Average execution spread across all BTC trades in February was 2.5 bps.
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