Binance dominated the centralized exchange (CEX) market in Q1 2025, with a 36.5% to 43.9% market share, depending on the source. The exchange processed approximately $8.39 trillion in trading volume, despite a 1% to 1.38% decline in market share due to increasing competition from MEXC and Bitget. Binance led in both spot and derivatives trading volumes, controlling 45% of the spot market and maintaining a 17% lead in derivatives. Its strong performance was attributed to its robust infrastructure, brand recognition and stable platform structure. Binance was also recognized by Forbes as one of the world's most trusted crypto exchanges ¹ ² ³.
