Cryptocurrency data platform CoinGecko has published its report covering the market shares of centralized cryptocurrency exchanges (CEX) by trading volume as of April 2025. According to the report, Binance maintained its leadership with a 38% market share, while Gate.io rose to second place with a remarkable rise.
Binance had the largest market share among centralized exchanges with a total spot trading volume of $482.6 billion in April 2025. However, this volume represents an 18% decrease compared to March. As of this month, Binance has fallen below the $500 billion monthly level for the first time since October 2024.
In the first quarter of 2025, Binance accounted for 37.5% of the total volume of the top 10 centralized exchanges with a trading volume of $2 trillion.
Gate.io, which processed $113.7 billion in spot trading volume in April, came in second with a 9% market share. Gate.io, which increased by 14.4% compared to March, was the only exchange in the top 10 to record double-digit growth. With this debut, it overtook Crypto.com and despite finishing the first quarter in sixth place, it displayed a strong monthly performance.
Bitget rose to third place in April with a 7.2% market share and $92 billion in transaction volume. At the beginning of the year, Bitget had only a 4.6% market share, but it has solidified its position with steady growth. However, in the first quarter of 2025, it was only in ninth place with a volume of $279.6 billion.
In the first quarter of 2025, the total trading volume of the top 10 centralized exchanges decreased by 16.3% to $5.4 trillion. Nine exchanges in the top 10 experienced volume declines, while eight saw double-digit declines. The steepest decline was seen on Upbit, with a 34% decline.
Here are the top 10 centralized cryptocurrency exchanges and their market shares as of April 2025:
- Binance – 38.0%
- Gate.io – 9.0%
- Bitget – 7.2%
- MEXC – 7.1%
- OKX – 7.0%
- Coinbase – 6.9%
- Bybit – 6.7%
- Upbit – 6.4%
- Crypto.com – 6.2%
- HTX – 5.4%
*This is not investment advice.
