Binance continues to perform exceptionally well against the backdrop of fundamental developments in its ecosystem.
Binance has once again proven its dominance in the centralized exchange (CEX) space after securing the largest net influx in the third quarter of 2025 with a massive amount of $14.8 billion.
According to the latest findings from CryptoQuant, this historic influx was largely driven by strong stablecoin deposits as the exchange continues to dominate as the leading liquidity hub in global cryptocurrency markets.
Binance dominates the third quarter
When deposits exceed withdrawals, it indicates positive net flows. CryptoQuant explained that this means investors are injecting new money into the exchange. This flow provides effective purchasing power ready to be used in both spot and derivatives markets. The accumulation of stablecoins on exchanges is often described as the "dry powder" of cryptocurrencies, indicating investors' readiness to utilize their funds in assets like Bitcoin, Ethereum, BNB, and others.
On the other hand, competing companies lagged significantly behind Binance. For example, OKX recorded inflows of only $1.61 billion, and Bybit recorded inflows of $1.33 billion in the third quarter, according to DeFiLlama data.
CryptoQuant stated that
This broad appeal stems from Binance's ability to attract institutional and individual investors from multiple regions, enhancing its position as a key gateway for cryptocurrency capital. In summary, the record net inflows in the third quarter not only bolster Binance's leadership among centralized trading exchanges but also indicate increasing momentum in the broader cryptocurrency ecosystem.
Binance's progress in spot trading volume
As CryptoPotato previously reported, in the first half of 2025, Binance captured over 37% of the global market share, equivalent to $3.44 trillion in trading volume. This overwhelming progress has made the cryptocurrency platform the main hub for Bitcoin liquidity, where large flow activities and whale trades often originate.
In comparison, competing platforms such as Bybit, Crypto.com, Coinbase, and OKX collectively accounted for only 29%, while the share of platforms like Upbit, Bitget, and HuobiPro hovered around 5%. At the same time, other trading platforms such as Kraken, KuCoin, and Gate.io contributed less than 3%.
