According to TokenInsight's report for Q1 2025, Binance remains the top crypto exchange despite overall challenges, with trading volumes around $8.39 trillion.
Market Leaders in Crypto Exchanges
The total trading volume on the top 10 exchanges amounted to $23 trillion, a 12.53% decrease from Q4 2024. Binance holds a 36.5% market share, but this is down 1.39% from the previous quarter's 37.89%. Platforms like Gate, MEXC, HTX, and Coinbase have increased their shares.
Decline in Cryptocurrency Trading Volume
In Q1 2025, trading volumes in both spot and derivatives markets fell. Total spot trading volume was around $4.6 trillion, down 13.1% from $5.3 trillion in the last quarter. There was also a drop in the popularity of derivatives, with trading volume down 9.9%.
Open Interest Trends and Exchange Token Performance
Open interest showed changes as well: Binance holds 23.53% in open interest, although this figure has decreased by 4.34% from the previous quarter. Exchange tokens performed differently, with GT (Gate's token) increasing by 34%.
Despite an overall decline in trading volumes in the cryptocurrency sector, Binance demonstrates resilient results, maintaining its leadership. Market analysis indicates that traders are adapting to changing conditions.
