The data statistics conducted by Wu's team show that:

In May 2025, the spot trading volume of major exchanges increased by 22% compared to April. The top three in terms of change rate are BitMart +128%, Mexc +83%, and HTX +56%. The bottom three are Upbit -8%, Coinbase -3%, and Gate +4%.

In May, the derivative trading volume of major exchanges increased by 14% compared to April. The top three in terms of change rate are Gate +66%, HTX +43%, and Kraken +28%. The bottom three are Mexc -32%, Cryptocom +3%, and Kucoin +15%.

In May, the website traffic of major exchanges increased by 5% compared to April. The top three in terms of change rate are Kucoin +60%, Kraken +16%, and Cryptocom +12%. The bottom three are HTX -27%, Deribit -9%, and Bitget -1%.

Note: The following data may have serious volume manipulation or bot suspicions. Spot and derivative data are sourced from Coingecko; traffic data are sourced from Similarweb.