Binance Dominates Crypto Exchange Market with 50% Spot Volume Lead

Binance has solidified its position as the leading crypto exchange by mid-2025, outperforming competitors in key metrics such as trading volume, capital inflows, and on-chain activity, as indicated by data from CryptoQuant. The exchange's dominance spans both retail and institutional user bases, making it a central force in the global crypto exchange landscape.

According to CryptoQuant’s mid-year report, Binance leads in spot volume, futures trading, stablecoin reserves, capital inflows, and on-chain user activity. This multi-layered dominance positions Binance as the top-performing exchange across all verticals. The report also highlights that Binance recorded the highest altcoin deposit and withdrawal activity, indicating active user rotation and engagement during market rallies. On the TRON network, Binance led in USDT transaction volume, reflecting its stronghold in low-fee, high-frequency stablecoin trading.

While Coinbase maintains a strong institutional presence, especially in reserve holdings and usage on the Ethereum network, its trading activity and market breadth remain more conservative compared to Binance. Mid-tier players such as Bybit, OKX, and Bitget maintain competitive momentum in the derivatives space and Ethereum-based stablecoin flows. However, their overall capital inflows, reserve growth, and on-chain user activity remain significantly below those of Binance and Coinbase.

The report underscores that on-chain behavior is increasingly favoring Binance, especially during high-volatility periods. This trend is evident in Binance’s high altcoin deposit and withdrawal activity, as well as its leadership in USDT transaction volume on the TRON network. While platforms like OKX and Bybit show steady growth in user traffic and niche asset trading, they have not matched Binance’s scale in terms of on-chain dominance or reserve inflow volume.

As of mid-2025, Binance’s comprehensive dominance across spot, futures, stablecoins, and on-chain metrics solidifies its position as the central force in the global crypto exchange landscape. Coinbase remains a well-capitalized and stable alternative, especially for institutional participants, while other exchanges continue to compete but with notable gaps in scale and user engagement.