#BinanceLeadsQ1 Binance is leading the centralized exchange (CEX) market with a significant share. According to the TokenInsight report for Q1 2025, Binance dominates the market in several key areas ¹ ²:

- *Market Share*: Binance has approximately 36.5% of the CEX market share, although this represents a small reduction from 37.89% in the previous quarter. However, another report suggests Binance's market share could be around 43.9%, highlighting its strong user base and liquidity.

- *Trading Volume*: Binance recorded around $8.39 trillion in trading volume in Q1 2025, despite a decline in overall cryptocurrency trading.

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

- *Open Interest Market Share*: Binance took the top spot with a mean open interest market share of 23.53%, although this was a decline of 4.34% from Q4 2024.

Other notable exchanges include ²:

- *OKX*: Retained the second position with 13.26% of the market share.

- *Bybit*: Came third with 13.06% market share, neck-and-neck with MEXC.

- *MEXC*: Recorded the highest spot market growth among CEXs, jumping from 6.1% share in Q4 2024 to 7.8% in Q1 2025, or rose by 0.59% to 13.06% according to other data.

- *Gate*: Experienced significant growth, rising from 3.34% to 5.41% market share.