Binance Holds 38% Market Share Despite 18% Trading Volume Decline
Binance holds a 38.0% market share as of Q2 2025 but has seen an 18% decline in trading volume, dropping from $588.7 billion in March to $482.6 billion in April. This marks the first monthly volume below $500 billion since October 2024.
Key points:
- The total trading volume across the top 10 exchanges decreased by 16.3%, equivalent to a loss of $1.1 trillion.
- Gate.io is now the second-largest exchange with a 9% market share and $113.7 billion in trades, reflecting a 14.4% increase from the previous month.
- Crypto.com fell to ninth place with a 6.2% market share after a 26.1% decline in trading volume.
- Bitget rose to third place with a market share increase from 4.6% to 7.2%, reporting $92.0 billion in trading volume in April.
- Upbit experienced the largest drop among leading exchanges, with a 34.0% decline in trading volume from Q4 2024 to Q1 2025.
- The overall trading volume for the top 10 exchanges reached $1.3 trillion in April 2025.
Despite launching an expansion plan across Europe, Crypto.com faced unexpected declines in growth.