Binance Dominates Bitcoin Spot Market in 2025 With Over One-Third of Global Volume
Bitcoin spot trading in the first half of 2025 has been heavily concentrated on Binance, which captured a staggering 37.34% of global volume—amounting to over $3.44 trillion.
The exchange remains the go-to venue for liquidity and large trades, often setting the tone for broader market moves.
Trailing behind, a combined group of exchanges—Bybit, Crypto.com, Coinbase, and OKX—make up roughly 29% of the market. While still significant players, their individual share lags well behind Binance’s commanding lead.
Mid-tier platforms like Upbit, Bitget, and HuobiPro maintain modest relevance, each hovering around 5% market share. Meanwhile, other exchanges such as Kraken, KuCoin, and Gate.io continue to serve niche or regional users, contributing less than 3% each to the global volume.
For traders watching big BTC movements or seeking the deepest liquidity pools, Binance remains the top destination—by a wide margin.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
