#BinanceLeadsQ1

Binance led the centralized exchange (CEX) market in Q1 2025, with a 36.5% market share, despite facing regulatory challenges and delisting concerns. The exchange processed approximately $8.39 trillion in trading volume, slightly down from $9.95 trillion in Q4 2024 due to market volatility.

*Key Highlights:*

- *Market Share*: Binance dominates the CEX market with 36.5% share, followed by OKX (13.26%) and Bybit (13.06%).

- *Trading Volume*: Binance's trading volume reached $8.39 trillion in Q1 2025, with a stable spot-to-derivatives ratio.

- *Spot Trading*: Binance leads in spot trading volume, accounting for 45% of the market share.

- *Derivatives Trading*: Binance maintains a 17% lead in derivatives trading volume.

- *Open Interest*: Binance tops the chart in open interest market share, although its lead is narrowing ¹ ².

Despite a slight decline in market share, Binance's strong performance and stability have helped it maintain its lead in the CEX market ³.