According to TokenInsight, leading exchanges Binance, OKX, Bybit, and Bitget showed strong results in Q2 2025, with total trading volume at $21.6 trillion.
Binance Maintains Dominant Position
Amid overall trading volume decline, Binance holds a 35.39% market share in Q2 2025, despite a slight decrease from 36.57% in Q1. OKX secured the second position with a 14.34% share, showing a quarter-on-quarter growth of 1.08%. Bybit and Bitget took third and fourth positions with 12.20% and 11.45%, respectively. The total trading volume across the top ten exchanges reached $21.6 trillion, a 6.16% decline from the last quarter.
Market Conditions Impact Trading Volume Decline
Bitcoin prices rose to $111,900; however, trading volumes for altcoins saw significant drops. The overall crypto market capitalization was approximately $3.46 trillion at the end of Q2, marking a 28.2% increase compared to Q1. Expectations of Federal Reserve rate cuts and improved employment data supported market sentiment, but geopolitical tensions and slow global growth limited broader recovery.
Exchange Tokens Show Mixed Performance in Q2 2025
Exchange tokens exhibited mixed results in Q2 2025, with most major tokens lagging behind Bitcoin, which rose by 31.62%. BNB recorded the highest gain among exchange tokens at 8.91%. Spot trading share continued to decline on most exchanges, with MEXC showing the largest increase at 2.70%.
Overall, Q2 2025 witnessed a trend of declining trading volumes despite a recovery in crypto market capitalization. Binance retains its leadership while exchange markets face pressure from both macroeconomic factors and industry-specific challenges.
