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crypto.news 2025-04-18 06:11:58

Report: Binance held 36% CEX market share in Q1 as total crypto trading volume dropped 12%

Binance has maintained its position as the leading centralized exchange in Q1 2025, despite a wider market downturn and declining trading volumes. With a total trading volume of about $8.39 trillion, Binance accounted for 36.5% of the global CEX market share, according to TokenInsight’s Q1 exchanges report . This was a decrease from the $9.95 trillion volume in Q4 2024 in line with the general market trend. Because of the waning hype after Trump’s inauguration, overall cryptocurrency trading volumes dropped 12.5% during the quarter. Total spot trading volume across the top 10 exchanges was $4.6 trillion, a 13.1% decrease from Q4 2024. The average daily spot trading value decreased as well, from $58 billion in Q4 to $51 billion in Q1. Despite this, Binance’s spot market share at the end of the quarter was 45%, a slight increase from the beginning of the quarter. A few rivals made slight progress. The spot market share of MEXC increased from 6.1% to 8%. While the majority of other platforms saw a decline, HTX, Bitget, and Bybit also reported modest gains. You might also like: Gate Q1 2025 report: Sustained leadership in crypto markets with new highs Coinbase, Binance’s closest competitor in the United States, held onto about 9% of the market share although it had a more difficult quarter overall. Its stock price dropped 30.6% to $172.23, and daily trading volumes plummeted, indicating that investors were becoming more cautious. Binance maintained its dominant position in the derivatives market, holding a 30.3% share. It also showed the most stability between spot and derivatives volume, indicating its steady platform structure. Over the quarter, derivatives trading reached $21 trillion, with an average daily volume of $233 billion. Traders leaned heavily into derivatives to manage risk in an increasingly uncertain macro environment. According to TokenInsight, the market became more logical and balanced as a result of the falling hype surrounding meme coins and AI tokens, with trading volume distributed more fairly among platforms. The report cited U.S. tariff concerns as one of the key changes that may continue to weigh down on the crypto market in this quarter. Read more: Markets drift lower as trade uncertainty lingers, crypto markets slump

https://www.digistore24.com/redir/325658/ceobig/
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