According to CoinDesk Data, Bullish, an institutional crypto trading platform, saw its spot trading volume increase 62.6% month-on-month to approximately $76 billion in February, with its market share rising to 5.06%, surpassing Coinbase's 4.59%. Overall trading activity on centralized exchanges slowed down during the same period, with total spot and derivatives trading volume falling by 2.41% month-on-month to approximately $5.61 trillion, of which spot trading volume was approximately $1.50 trillion.