The cryptocurrency data platform CoinGecko has released a report on the market shares of centralized cryptocurrency exchanges (CEX) by trading volume as of April 2025. According to the report, Binance remains in the lead with a 38% market share, while Gate.io has risen to second place with a significant increase.
Binance has the largest market share among centralized exchanges with a total spot trading volume of $482.6 billion in April 2025. However, this volume decreased by 18% compared to March. As of this month, Binance has fallen below the $500 billion monthly mark for the first time since October 2024.
In the first quarter of 2025, Binance accounted for 37.5% of the total volume of the top 10 centralized exchanges with a trading volume of $2 trillion.
Gate.io, which processed $113.7 billion in spot trading volume in April, ranks second with a 9% market share. Gate.io, up 14.4% from March, is the only exchange in the top 10 to record double-digit growth. With this launch, the exchange surpassed Crypto.com and although it ended the first quarter in sixth place, it still showed strong monthly performance.
Bitget has risen to third place in April with a 7.2% market share and $92 billion in trading volume. At the beginning of the year, Bitget only had a 4.6% market share but has solidified its position with steady growth. However, in the first quarter of 2025, it only ranked ninth with a volume of $279.6 billion.
In the first quarter of 2025, the total trading volume of the top 10 centralized exchanges decreased by 16.3% to $5.4 trillion. Nine exchanges in the top 10 saw a decrease in trading volume, while eight exchanges experienced double-digit declines. The largest drop was recorded on Upbit, with a decrease of 34%.
Below are the top 10 centralized cryptocurrency exchanges and their market shares as of April 2025:
In the first quarter of 2025, the total trading volume of the top 10 centralized exchanges decreased by 16.3% to $5.4 trillion. Nine exchanges in the top 10 saw a decrease in trading volume, while eight exchanges experienced double-digit declines. The largest drop was recorded on Upbit, with a decrease of 34%.
Below are the top 10 centralized cryptocurrency exchanges and their market shares as of April 2025:
Binance – 38.0%
Gate.io – 9.0%
Bitget – 7.2%
MEXC – 7.1%
OKX – 7.0%
Coinbase – 6.9%
Bit – 6.7%
Huobi – 6.4%
Crypto.com – 6.2%
HTX – 5.4%