#BinanceLeadsQ1

Binance maintained its leading position in the centralized cryptocurrency exchange (CEX) market throughout the first quarter of 2025. Despite an overall slowdown in the crypto market and a decline in trading volumes across the top exchanges, Binance recorded a substantial spot trading volume of $2.2 trillion in Q1 2025.

This strong performance allowed Binance to increase its market share in spot trading from 38% in January to 40.7% by the end of March 2025. While Binance's total trading volume of $8.39 trillion in Q1 2025 was lower than the $9.95 trillion recorded in the previous quarter, its dominance in the market remained significant.

Other exchanges like OKX and Bybit held the second and third positions, respectively, but with considerably lower market shares. Notably, some exchanges like MEXC and HTX saw slight increases in their market share during this period. The overall decrease in trading volume across the top 10 exchanges indicates a more cautious market sentiment in Q1 2025 compared to the end of 2024.