Binance Tightens Its Grip as Crypto Trading Power Concentrates Further: Data
Binance continued to dominate in 2025, as it captured over 40% of spot and Bitcoin perpetual volumes across major global exchanges.
Crypto exchange activity diverged sharply in 2025, as spot market growth slowed down while derivatives trading continued to expand at a strong pace.
Total spot trading volume reached $18.6 trillion. This represented a 9% year-on-year increase, but it is a significant deceleration from the 154% growth recorded in 2024.
Crypto Exchange Activity
According to CryptoQuant, perpetual futures activity, in contrast, rose 29% year-on-year to $61.7 trillion, after adding $13.8 trillion in volume compared with the previous year. Spot trading remained…
