CryptoQuant: In 2025, cryptocurrency exchange trading volume hits a new high, with Binance accounting for over 40%

According to data released by CryptoQuant, the total spot trading volume of cryptocurrencies (CEX and DEX) in 2025 is $18.6 trillion, a 9% increase from $17 trillion in 2024; the total perpetual futures trading volume is expected to reach $61.7 trillion by the end of the year, a year-on-year growth of 29%.

In terms of exchanges, Binance's annual spot trading volume is close to $7 trillion, accounting for 41% of the spot trading volume of the top ten centralized exchanges; Bybit, MEXC, and Crypto.com follow closely, with trading volumes of approximately $1.5 trillion, $1.4 trillion, and $1.3 trillion, respectively.

Additionally, in 2025, Binance's Bitcoin perpetual futures trading volume reaches $25.4 trillion, accounting for 42% of the trading volume of the top ten exchanges; OKX, Bybit, and Bitget account for between 11% and 19% of the total trading volume; Hyperliquid holds 3.7%; all other platforms, including Coinbase, collectively account for about 10%.