#BinanceLeadsQ1 Binance dominated the centralized cryptocurrency exchange (CEX) market in Q1 2025, with a trading volume of approximately $8.39 trillion. This impressive figure accounts for around 36.5% of the total CEX market share, although it's a slight decrease from 37.89% in the previous quarter.

*Key Highlights:*

- *Market Share*: Binance leads with 36.5% market share, followed by growing competitors like MEXC and Bitget.

- *Trading Volume*: The exchange processed $8.39 trillion in trading volume in Q1 2025, down from $9.95 trillion in Q4 2024.

- *Spot and Derivatives Trading*: Binance dominates both spot and derivatives trading volumes, controlling 45% of the former and maintaining a 17% lead in the latter.

- *Open Interest Market Share*: Binance ranked number one in open interest market share, with a mean of 23.53%, although it saw a 4.34% decline from the previous quarter.

- *Public Notoriety*: Binance was mentioned more than any other exchange in TokenInsight's list of noteworthy industry events for Q1 2025 and was recognized by Forbes as one of the world's most trusted crypto exchanges

Despite facing regulatory challenges and community concerns, Binance's strong platform structure and consistent performance have maintained its lead in the CEX market. However, rising competitors like MEXC, which saw the largest growth in spot market share, are closing in