Despite challenges with regulations and concerns about listings, TokenInsight's latest report reveals that Binance continues to lead the CEX market comfortably. While facing increased competition from MEXC and Bitget resulting in a 1% drop in market share, Binance still controls over a third of CEX trades.
Across all metrics analyzed in the report, Binance stands out, boasting the largest market share and public awareness. It dominates both spot and derivatives trading volumes while maintaining a stable ratio between the two compared to other CEXs.
Binance remains a strong contender in the CEX arena, despite encountering setbacks and criticisms regarding its token listings and alleged connections to the Trump family. The exchange had a successful Q1 2025 with its trading volume maintaining its stronghold over one-third of the CEX market.
According to TokenInsight, Binance retained its market-leading position in both quarters, reporting a trading volume of $9.95 trillion in Q4 2024 and approximately $8.39 trillion in Q1 2025 due to market fluctuations. Holding 36.5% market share in Q1 2025, Binance remains the top player.
While Binance's overall market share saw a slight decline of 1.38%, it still surpasses most CEXs. Despite other exchanges experiencing drops too, Binance's position remains dominant, with other competitors unable to catch up.
Binance continues to outshine its competitors with a market share of close to 36% and commanding positions in spot trading and derivatives volumes. Its platform's consistency in maintaining the spot-to-derivatives trading ratio is another advantage.
Although Binance held the top spot in open interest market share, its lead was not as secure in this aspect. However, intangible factors recognized by TokenInsight significantly influence Binance's performance in the CEX market.
Highlighted in the notable industry events for Q1 2025, Binance garnered more mentions than any other exchange, including being listed by Forbes as one of the most reliable crypto exchanges globally. Despite facing regulatory scrutiny in different regions, Binance remains a formidable force in the market.