A new report from CryptoCompare, a provider of crypto market data, reveals that Binance’s market share rose from 59.4% in January to 61.8% in February.

Binance, the world’s largest centralized crypto exchange, experienced a surge in its spot volumes, reaching an all-time high market share with a 13.7% increase to $504 billion, the report also found.

In second place to Binance in trading volume, Coinbase saw $39.9 billion traded in February, a 29% decrease from the previous month. Kraken came in third, with $19.3 billion traded, down 11%.

Binance’s market share across derivative exchanges grew to 62.9%, the highest monthly market share ever recorded for the exchange. OKX and Bybit followed with 14% and 13.3% market share, respectively.