In March, trading volumes across both centralized exchanges (CEX) and decentralized exchanges (DEX) experienced a significant decline amid macroeconomic turmoil. DEX trading volume dropped 35% to $242 billion in March from $373 billion in February, marking the lowest level since October, according to DeFiLlama. The majority of March’s trading volume came from platforms like Uniswap, PancakeSwap, and Orca. Meanwhile, combined spot and derivatives trading volume on CEXs fell by 6.24%, reaching $6.79 trillion, also the lowest since October. Specifically, spot trading fell 14.1% to $1.98 trillion, and derivatives fell 2.56% to $4.81 trillion, according to a new report by CoinDesk. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io