Binance Surges 61.4% in July Trading Volume, Dominates 39.8% Global Market Share

Binance maintained its dominance in the global cryptocurrency spot market in July 2025, capturing 39.8% of the market with a trading volume of $698.3 billion. This marked a 61.4% increase from June’s $432.6 billion, according to a report from CoinGecko [1]. The platform’s strong performance underscored its continued leadership in the centralized exchange (CEX) space and highlighted a broader resurgence in investor activity [1].

MEXC followed Binance in the rankings, securing 8.6% of the market share with $150.4 billion in July trading volume—an increase of 61.8% from $93 billion in June [1]. Gate.io ranked third with a 7.8% market share and $137.2 billion in volume, up 61.3% month-on-month. The top 10 exchanges collectively controlled 83.6% of the market, with platforms ranked fourth through tenth holding roughly 5–7% each [1].

Coinbase, once a major player in the U.S. market, saw its position slip to ninth in July, with a 5.8% market share and $101.7 billion in volume. Despite an impressive 82.6% monthly growth, Coinbase’s market share continued to shrink throughout 2025, declining from 7.0% at the start of the year [1]. This trend reflects a broader shift in trading behavior, with traders increasingly favoring alternative platforms and decentralized options.

The overall spot trading volume on the top 10 CEXs totaled $3.9 trillion in the second quarter of 2025, a 27.7% drop from the first quarter’s $5.4 trillion. Binance led the quarter with 38% of the market share and $1.47 trillion in volume, though this marked a 21.6% decline from Q1’s $2 trillion [1]. Seven of the top 10 exchanges reported lower Q2 volumes, with Crypto.com experiencing the steepest drop at -61.4%. Only three platforms—MEXC, HTX, and Bitget—posted quarter-on-quarter growth [1].

Despite the Q2 decline, the second half of the month saw a notable rebound, driven by a bullish market sentiment. Bitcoin reached historical highs, attracting new participants and boosting overall trading volumes. This positive momentum was accompanied by strong gains in other major assets, including Ethereum, which saw a 40% increase in value during the month [1].

The broader market dynamics also reflected a growing shift toward decentralized exchanges (DEXs). As centralized exchange trading activity slowed in Q2, DEX platforms gained market share, indicating a structural shift in how traders are engaging with the crypto ecosystem [1]. This trend aligns with ongoing regulatory developments, including the Federal Reserve’s decision to end its oversight program for banks offering crypto and fintech services in late July [1]. The move signaled a more accommodating stance toward the industry and contributed to the overall positive sentiment.

Binance’s native token, BNB, also experienced a record market capitalization of $120.4 billion in July, supported by the platform’s token-buying activity and growing institutional interest [1]. The platform’s aggressive strategy, combined with a favorable regulatory environment and strong price performance across key assets, contributed to its leadership in the market.

The July 2025 data paints a picture of a market in flux, with Binance at the center of a significant rally. As the industry continues to evolve, the performance of CEXs like Binance and the growing influence of DEXs will remain key factors in shaping the future of digital asset trading.

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[1] https://coinmarketcap.com/community/articles/68a06bf80be0247aa9a98ab7/