Crypto Trading Volumes fell sharply in February when the concerns that President Donald Trump’s tariffs in Mexico, Canada and other countries would stifle international trade, reduced the investor’s demand to add risky investment.

Combined space and derivatives trading volume of centralized exchanges dropped 21% to $ 7.2 trillion, the lowest level since October, according to Coindesk Data’s latest exchange notification.

Since November, the Trump administration has threatened to introduce duties for trading partners, including China and the European Union in response to what it considers unreasonable commercial practice against the United States in various industries.

Among centralized stock exchanges, Binance maintained its position as the largest spot trading platform with a market share of 27%. It was followed by Crypto.com (8.1%) and Bybit (7.4%) with Coinbase (Coin) and Mexc Global, rounding the top five.

Derivater trade also experienced a significant decline in which CME – the largest institutional crypto -trading site – registered its first volume of five months. CME’s trading volume dropped 20% to $ 229 billion, with Bitcoin Futures activity that slipped 20% to $ 175 billion and Ether futures dropped 13% to $ 35.9 billion.

The fall in trade coincided with a fall in BTC CME annual basis that fell to 4.08%, the lowest level since March 2023. Nevertheless, CME’s market share grew among the derivative exchange to record 4.67%.

The increase suggests that although the retail activity has subsided, with Robinhood (HOOD), which recently reported his crypto trading volume, fell 29% in February, the institutional interest in the industry is holding.

The overall open interest across all trading pairs on centralized exchanges dropped 30% to $ 78.8 billion, the lowest since November 5, the report noted, reflecting the heavy liquidations endured during the recent draw.