Harsh Yashmika

The chart below shows BTC spot volume dominance by exchange for the first half of 2025. The chart shows where the largest concentration of Bitcoin spot trading occurs.

1. Currently, Binance accounts for 37.34% of global BTC spot volume (over $3.44 trillion), giving it a dominant lead. Personally, I monitor Binance closely for volume spikes and large trades: it’s often the first place big moves show up.

2. For comparison, Bybit, Crypto.com, Coinbase, and OKX combined account for about 29% of total spot volume. The gap between Binance and the rest is significant, but these four still represent the next major hubs for liquidity.

3. Exchanges like Upbit, Bitget, and HuobiPro hover around the 5% mark, making them relevant but secondary in global influence. Below that, you’ll find long-tail exchanges (e.g., Kraken, KuCoin, Gate.io), which are more niche and regionally focused, each under 3% of the total.

Bottom line: If you're looking for deep liquidity or want to track major BTC flow activity, Binance is still the primary exchange (by far).

Written by maartunn