Binance Crushes Competition with 38% Market Dominance – New CEX Report Reveals
Binance isn’t just leading the pack—it’s lapping the competition. The latest CoinGecko report shows the exchange gobbling up 38% of total CEX market share, leaving rivals scrambling for scraps.
No surprises here—just another day in the unregulated Wild West of crypto trading. Meanwhile, regulators are still ’monitoring the situation’ from their 2017 playbooks.
Source: Coingecko
The largest drop was seen by Upbit, which saw a 34.0% reduction in its trading volume, falling from $561.9 billion in Q4 2024 to $371.0 billion in Q1 2025. The combined trading volume of the top 10 crypto exchanges dropped by 16.3% in April 2025, wiping out $1.1 trillion. Overall, the total volume stood at $1.3 trillion for the month.
The top 10 exchanges by market share in April 2025 are as follows:
| Rank | Exchange | Market Share |
| 1 | Binance | 38% |
| 2 | Gate.io | 9.0% |
| 3 | Bitget | 7.2% |
| 4 | MEXC | 7.1% |
| 5 | OKX | 7.0% |
| 6 | Coinbase | 6.9% |
| 7 | Bybit | 6.7% |
| 8 | Upbit | 6.4% |
| 9 | Crypto.com | 6.2% |
| 10 | HTX | 5.4% |
While Binance continues to hold the top spot, Gate.io has been growing impressively, and Bitget is steadily climbing the ranks. This is making the competition in the CEX market more intense than ever.
At the same time, the market’s volatility is becoming more apparent, with several platforms seeing a decline in trading volume. This highlights how quickly things are shifting in the crypto exchange world. The total trading volume of April 2025 values at $1.3 trillion.
While Binance is still in the lead, Gate.io’s impressive growth and Bitget’s steady climb are making the CEX market more competitive than ever. At the same time, the market’s volatility is becoming more apparent, with several platforms seeing a decline in trading volume. This highlights how quickly things are shifting in the crypto exchange world.
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