#BinanceLeadsQ1

Binance has continued to be the leading cryptocurrency exchange in Q1 2025 and has recorded around $8.39 trillion in traded volumes despite the challenges facing the markets.

The TokenInsight Q1 2025 Exchange Report details that the market share of exchanges is approximately 36.5%. This is a slight decrease from 37.89% in the previous quarter, but significantly higher than its closest rivals.

The report indicates that cryptocurrency trading is declining. The top 10 exchanges combined had a total of $23 trillion. This is a decrease of 12.53% compared to Q4 2024.

Binance remains number one in market share

While Binance continued to lead in Q1 2025 with a market share of 36.5%, four platforms increased during this overall market decline. Gate recorded the largest market share increase based on TokenInsight data, followed by MEXC, HTX, and Coinbase.

The market share change chart indicates that Binance fell by 1.39% from its Q4 2024 level of 37.89%. OKX retained the second position with 13.26% of the market (0.13% less), and Bybit came in third with 13.06% (0.89% less). Combined, the three giant exchanges represented nearly 63% of the total cryptocurrency trading volume.