Binance leads with 35.39% market share in Q2 2025
OKX, Bitget, and Gate.io saw positive market share growth
Gate posted the highest quarterly gain at 2.55%
In TokenInsight’s Q2 2025 crypto exchange rankings, the top four positions were once again taken by the industry’s giants: Binance, OKX, Bybit, and Bitget. Binance maintained a strong lead with a 35.39% combined market share across spot and derivatives markets. OKX followed with 14.34%, Bybit with 12.26%, and Bitget with 11.45%, rounding out the top-tier exchanges.
These platforms have consistently held dominant positions thanks to strong liquidity, global reach, and competitive trading tools.
Gate.io, HTX, and KuCoin Show Steady Growth
Beyond the top four, several mid-tier exchanges saw positive momentum during Q2 2025:
Gate.io led the growth chart, expanding its market share by 2.55%, indicating growing user activity and adoption.
OKX also increased its share by 1.08%, strengthening its second-place standing.
HTX (formerly Huobi) gained 0.51%, showing signs of recovery.
Bitget inched up by 0.14%, continuing its growth path.
KuCoin posted a slight 0.05% gain.
These gains suggest traders are diversifying their platform usage, exploring newer features, better incentives, or more regional accessibility from smaller players.
According to TokenInsight's Q2 2025 cryptocurrency exchange report, Binance, OKX, Bybit, and Bitget ranked as the top four exchanges by market share in both spot and derivatives markets, with shares of 35.39%, 14.34%, 12.26%, and 11.45%, respectively. Five exchanges saw market…
— Wu Blockchain (@WuBlockchain) July 16, 2025
What This Means for the Crypto Exchange Landscape
The Q2 2025 crypto exchange rankings signal both market consolidation at the top and competition from ambitious mid-tier exchanges. While Binance and its closest competitors continue to command the lion’s share, exchanges like Gate.io and HTX are leveraging innovation and community growth to climb the ladder.
The competitive dynamics are shifting, and as regulation tightens and the user base grows globally, exchanges with flexibility, compliance, and strong user offerings will likely thrive.
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