Top 5 Crypto Exchanges in 2025: Why Binance, KuCoin, OKX, Bitget, Coinbase Lead the Pack

In Q2 2025, the crypto market rebounded to a total capitalization of $3.46 trillion, up 28.2% from Q1, driven by ETF inflows and the Bitcoin rally from $83,000 to nearly $112,000. However, broader market participation remained weak, with altcoins lagging and liquidity still thin across many assets.

Exchange activity reflected this divide.

Total trading volume across the top 10 centralized exchanges hit $21.6 trillion, down 6.16% from Q1. Spot markets saw a sharper decline of 21.7%, while derivatives volumes dipped only slightly.

Still, some exchanges gained ground.

Binance held a 35.39% market share, while OKX, Bitget, and KuCoin recorded modest growth, particularly in derivatives and open interest.

As the market stabilizes, we examine how these leading exchanges are adapting in 2025 to highlight their strengths, shifts, and competitive edges in a volatile landscape.

Top Exchanges in 2025 Binance Binance remains the leading centralized exchange by volume, holding 35.39% of total trading activity and topping open interest at 23.83%, according to TokenInsight’s Q2 2025 report.

While still ahead, these figures reflect a gradual decline as total CEX volume… The post Top 5 Crypto Exchanges in 2025: Why Binance, KuCoin, OKX, Bitget, Coinbase Lead the Pack appeared first on Coin Edition ..

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