Data from WuShuo Team reveals a significant decline in spot trading volumes across major exchanges in March 2026, with a 19.4% decrease compared to February 2026. Kraken, Bybit, and OKX experienced the smallest declines at -9.5%, -12.4%, and -13.2% respectively. Conversely, Upbit, Bitget, and Cryptocom saw the largest drops at -39.4%, -31.2%, and -23.4%.In contrast, derivatives trading volumes fell by only 2.9% over the same period. Notably, Coinbase, MEXC, and KuCoin recorded increases of 41.4%, 36.6%, and 4.4% respectively. However, Deribit, HTX, and Cryptocom faced significant declines of -30.6%, -26.4%, and -19.7%.