#BinanceLeadsQ1 Binance dominated the centralized crypto exchange market in Q1 2025, with a 36.5% market share, despite a slight decline from 37.89% in Q4 2024. The exchange recorded $8.39 trillion in trading volume, outpacing its nearest rivals.
*Key Highlights:*
- *Market Share*: Binance's market share stood at 36.5%, significantly higher than its closest competitors, OKX (13.26%) and Bybit (13.06%).
- *Trading Volume*: The total trading volume for Binance was $8.39 trillion, a decrease from $9.95 trillion in Q4 2024, aligning with the overall market trend.
- *Spot Trading*: Binance's spot market share increased to 45%, with a total spot trading volume of $4.6 trillion across top exchanges, down 13.1% from the previous quarter.
- *Derivatives Market*: Binance led the derivatives market with a 30.3% share, handling $21 trillion in derivatives trading volume in Q1 2025 ¹ ².
*Competitor Performance:*
- *Gate*: Increased its market share from 3.34% to 5.41%, with a significant rise in open interest market share.
- *MEXC*: Gained 0.59% market share, now closely competing with Bybit for the third position.
- *Coinbase*: Experienced a slight increase of 0.03% in market share but faced challenges with a 30.6% drop in stock price due to declining trading volumes ¹.