Binance Crushes 2025: Undisputed King of Spot, Futures & Stablecoin Markets
Binance isn't playing the game—it's rewriting the rulebook. While legacy exchanges scramble to keep up, CZ's empire just locked down a triple crown of crypto dominance.
The trifecta no one saw coming
Spot markets? Check. Futures? Dominated. Stablecoin liquidity? Basically printing their own monetary policy at this point. The numbers don't lie—and neither do the traders fleeing second-tier platforms.
Why this isn't just another bull run headline
While Wall Street still debates 'blockchain potential,' Binance operates in a different reality—one where they control the rails, the tokens, and increasingly, the entire damn train. (But sure, Jamie Dimon, keep calling crypto a 'fraud.')
The scary part? This isn't peak dominance—it's the new baseline. Buckle up.
- Binance dominated crypto trading in H1 2025, handling $2T in spot and $4.1T in Bitcoin futures volume.
- Binance holds over 59% of all stablecoin reserves among top exchanges, showcasing its unmatched liquidity.
- With 700K+ altcoin transfers and $29.6M USDT TRON transactions, Binance leads global on-chain activity.
Binance has become the best performing cryptocurrency exchange in the first half of 2025. It takes control over spot and futures trading, stablecoin reserves, and on-chain. According to a blockchain analytics company, CryptoQuant, Binance is seen as responsible for about $2 trillion in spot turnover, $4.1 trillion in Bitcoin futures, and above 59% of all stablecoin holdings of the top centralized venues.
In H1 2025, Binance received 42% of the world’s centralized spot trade volumes. This gives it a commanding lead in Bitcoin and altcoin markets. Its spot volume exceeded 2 trillion, which practically towered over competitors. Crypto.com ranked second with an appetite of about $800 billion, followed by Bybit, which had about $450 billion. Both exchanges had an even balance in the use of Bitcoin and altcoins.
Source: CryptoQuant
Binance Leads Futures Market
In bitcoin perpetual futures, the dominance of the exchange is even more conspicuous on Binance. It transacted $4.1 trillion, which constituted 38% of the market share in the world. Bitget ranked second with $2.1 trillion, or 19.3%. Other exchanges, such as Bybit and OKX trailed with $1.82 trillion and $1.81 trillion, respectively. This market dominated over all other exchanges with less than 10%.
Source: CryptoQuant
The exchange is also the leader regarding liquidity in the biggest stablecoin reserve. The exchange contains 31.67 billion dollars, which comes to 59.65% of the reserves of stablecoins in the top 10 centralized exchanges. OKX and Coinbase have a ratio of only $7.99 and $6.05 billion, respectively. The smaller players, such as Bybit, Kraken, and KuCoin, have a share of less than 6%.
Source: CryptoQuant
Coinbase leads according to the total reserves, with the company holding $123 billion in Bitcoin, Ether, and Tether. Binance comes in the next position with $110 billion. The third position is Bitfinex with $48.5 billion. Both OKX and Upbit have reserves valued at 22 billion dollars. Others, like Gemini, Kraken, and Bybit, carry much less.
Binance Dominates On-Chain Activity
In the on-chain activity front, exchange beats all the records. It registered more than 700 thousand deposit and withdrawal operations with altcoins. This number indicates the high number of users of the exchange and its contribution to altcoin liquidity. In second place, coinbase indicates 600,000+ transactions but has more outflows as compared to inflows.
Source: CryptoQuant
Binance is the leading exchange in USDT on the TRON network as well. It registered $29.6 million in transactions, reflecting its dominance of the stablecoin movement. Some of the other exchanges in the TRON USDT market are Bybit, HTX Global, and OKX. These interactions are dynamic, though on a smaller scale.
Coinbase is also the largest in terms of the total on-chain transactions on all networks. Through ethereum and stablecoin transfers, it served more than $17 million. The exchange comes next with $13 million in transactions, more related to Ethereum-based transactions and the usage of altcoins.
Source: CryptoQuant
The extent of Binance’s influence proves its steady lead in spot volume, contract futures, and liquidity. The unparalleled scale of its stablecoin reserves and altcoin transactions are confirming the central place it holds in crypto trading across the world. In this performance, the company continues to be at the top of the centralized exchanges in 2025. The other platforms keep continuing to increase; however, the gap is significant.
