Binance Leads CEXs in Q1 2025 with 43.9% Market Share

• Binance maintains dominance with 43.9% market share in Q1 2025
• MEXC records highest spot market growth among CEXs
• Bitget, Coinbase, and HTX also post steady growth

Binance Holds the Crown in Q1 2025

According to the latest TokenInsight report, Binance has solidified its dominance in the centralized exchange (CEX) landscape by securing an average market share of 43.9% in the first quarter of 2025. Despite increasing competition in the space, Binance continues to outpace rivals by a wide margin, maintaining its leadership as the go-to platform for crypto traders globally.

This consistency highlights the exchange’s strong user base, liquidity, and expansive offerings in both spot and derivatives markets. Binance’s dominance also reinforces its reputation for providing a seamless trading experience, even amid regulatory challenges and evolving industry standards.

MEXC Emerges as the Fastest-Growing CEX

While Binance remains on top, MEXC has made notable strides, achieving the largest growth in spot market share among all centralized exchanges. The exchange jumped from a 6.1% share in Q4 2024 to 7.8% in Q1 2025.

This significant gain suggests growing interest from retail and professional traders alike, possibly due to MEXC’s aggressive listing strategy and user-centric features. The exchange has been investing heavily in expanding its spot market capabilities, and it appears to be paying off.

Other Exchanges Show Positive Momentum

Other key players in the market, including Bitget, Coinbase, and HTX, also reported growth during Q1 2025. Bitget and Coinbase each saw a 0.4% increase, while HTX posted a more noticeable 1.1% growth.

These increases reflect a healthy competitive landscape among CEXs and show that despite Binance’s lead, other exchanges are gaining traction through regional expansions, new listings, and improved infrastructure.

The report underlines a dynamic first quarter for centralized exchanges, with signs pointing