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Bitcoin Exchange Binance’s Trading Volume Dropped Hugely in April! What About Other Exchanges? Here Are the Details
By: bitcoin ethereum news|2025/05/09 07:15:01
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The centralized cryptocurrency exchange (CEX) market witnessed significant changes in April 2025, with market leader Binance experiencing a sharp decline in trading volume, while Gate.io rose to second place. Centralized Crypto Exchange Rankings Shook in April as Binance Drops Below $500 Billion in Volume Despite maintaining its position as the largest CEX by spot trading volume, Binance’s market share fell slightly to 38.0% from 40.1% in March. The exchange recorded a trading volume of $482.6 billion, down 18.0% on a monthly basis compared to $588.7 billion in March. This marks the first time Binance’s spot volume has fallen below $500 billion since October 2024, raising concerns about whether the exchange’s dominance is starting to plateau. Binance led the top 10 exchanges with a 37.5% market share in the first quarter of 2025, carrying $2.0 trillion of the total $5.4 trillion trading volume. Gate.io Moves to Second Place Gate.io posted the strongest growth among all major exchanges in April, moving into second place with a 9.0% market share and $113.7 billion in trading volume, up 14.4% from $99.4 billion in March. This rise put Gate.io ahead of Crypto.com, which has been losing market share steadily since February. Notably, Gate.io was the only exchange to record double-digit growth in April. On a quarterly scale, Gate.io is projected to decline from $413.2 billion in Q4 2025 to $361.3 billion in Q1 2024. Despite the decline in Q1, its momentum in April positions it as a significant competitor to Binance. Bitget Climbs to Third Place Bitget achieved modest monthly growth of 1.7%, coming in third place with a 7.2% market share and $92.0 billion in spot trading volume in April. Bitget has steadily expanded its footprint this year, leaving several rivals behind, starting 2025 with just a 4.6% share. However, its Q1 performance still lags behind, with $279.6 billion in total volume during the quarter and a 6.2% market share, making it only the ninth-largest exchange. Broader Industry Trends: Most Stocks Down Overall, the centralized exchange sector contracted in Q1 2025, with eight of the top 10 exchanges experiencing double-digit volume declines. Overall trading volumes shrank by $1.1 trillion, while the top 10 exchanges traded $5.4 trillion in Q1. Upbit recorded the steepest decline of 34.0%, with transaction volume falling from $561.9 billion in Q4 2024 to $371.0 billion in Q1 2025. While Binance remains the undisputed market leader, recent data highlights the increasing fragmentation among competitors, with Gate.io and Bitget in particular making significant gains. *This is not investment advice. Source: https://en.bitcoinsistemi.com/bitcoin-exchange-binances-trading-volume-dropped-hugely-in-april-what-about-other-exchanges-here-are-the-details/
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