Binance holds 41.1% of the global spot trading volume in June 2025:
Binance, the largest cryptocurrency exchange in the world by trading volume, is gradually leaving its competitors behind in the spot trading arena.
According to new data from The Block, Binance captured up to 41.1% of the global market share for spot trading volume in June 2025, and this month is not yet over. The volume includes trading of all cryptocurrency types listed on each platform.
Binance accounted for 41.1% of the total global spot trading volume in June 2025. Source: The Block.
Binance widens market share gap.
Data on monthly spot market volume across cryptocurrency exchanges shows Binance earned over $262.37 billion in June so far, further solidifying its leading position among exchanges.
Its closest competitor, HTX (formerly known as Huobi), is even falling behind, with a trading volume of over $58.8 billion so far in June. In May 2025, Binance continued its dominance throughout the year, achieving a trading volume of over $551.2 billion in that month.
HTX ranks fourth, with Bybit and Bitget occupying other top spots in May, with volumes exceeding $107.06 billion. Bybit exceeded $110.32 billion, and Bitget ranked third with over $107.45 billion.
Coinbase, the largest cryptocurrency exchange in the United States, handled $33.4 billion in monthly spot market volume as of June, and the platform processed over $84.56 billion in May 2025.
In just June alone, a total of 34 other exchanges achieved $189.78 billion, while the same group reached $508.87 billion in May 2025. In many ways, this is not a new phenomenon. Binance has dominated cryptocurrency trading for many years, especially after weathering the wave of collapses of exchanges and regulatory tightening in 2022 and 2023.
The platform reached its highest monthly spot trading volume in May 2021, recording over $1.64 trillion. The last time it achieved such a high was in March 2024, when the exchange reached a volume of over $1.13 trillion.
Binance continues to win.
Analysts point out that the combination of product, pricing, and scale are key factors enabling Binance to maintain its dominance.
Binance has long supported strong promotional programs, including zero-fee trading for certain Bitcoin and stablecoin pairs, attracting both high-frequency traders and institutional cash flows.
Secondly is liquidity, as the exchange has over 1,900 active spot pairs, Binance offers a deep order book, narrower spreads, and minimal slippage even during volatile periods. This makes it an attractive venue not only for whales but also for retail traders seeking efficient execution.
Thirdly, Binance continues to invest in global coverage. Fiat on-ramps are available in over 70 jurisdictions. Multi-language support. And starting in 2025, the exchange claims it will operate multiple regional data centers to optimize latency for traders across continents.
When combined, these factors create a type of network effect that smaller exchanges find increasingly difficult to replicate.
Increasing competition, but still far behind.
While Binance is increasingly widening the gap, some competitors are still gaining ground. HTX has always been present in this field.
Other platforms like ByBit and Bitget have seen double-digit growth in spot trading volume in Q1 2025, although from smaller bases. Coinbase, while lagging in global trading volume, still dominates in the U.S. and North America and has secured important licenses in Europe.
Nevertheless, the gap in volume remains significant. Unless there is a major shift, through regulation, security breaches, or a black swan event, Binance seems likely to retain its throne.