News 
April 17, 2025 
3 min. 
A fresh analysis by TokenInsight reveals that Binance continues to lead the centralized exchange (CEX) space, even as it faces regulatory challenges and delisting concerns. Although rising platforms like MEXC and Bitget have chipped away at its dominance, causing a slight 1% dip in market share, Binance still commands over one-third of the total CEX trading activity.
The report highlights Binance’s consistent performance across all key indicators. It remains the top player in both spot and derivatives trading and holds the most balanced ratio between the two segments compared to any other exchange.
Binance Stays Ahead in the CEX Market, Despite Challenges
Even amid controversy and community criticism, Binance continues to hold a commanding lead in the centralized exchange (CEX) arena. Although it has faced underwhelming performance from new token listings and questions about potential links to the Trump family, the platform still delivered a strong first quarter in 2025.
According to TokenInsight’s latest report, Binance processed roughly $8.39 trillion in trading volume in Q1 2025, following $9.95 trillion in Q4 2024. Despite a dip due to market fluctuations, the exchange maintained a solid 36.5% share of the total CEX market.
However, Binance’s dominance isn’t without a few signs of slowing down. Its overall market share shrank by 1.38%, the largest drop among top-tier exchanges. By comparison, Bybit, which dealt with a major security breach, only lost 0.89%. Still, while most leading CEXs saw slight declines, none of the up-and-coming competitors came close to matching Binance’s lead.
Currently, Binance controls nearly 36% of the entire CEX landscape and stands out not just in size but in depth. It leads in both spot trading and derivatives, accounting for 45% of the former and maintaining a 17% lead in the latter. TokenInsight also found that Binance maintained one of the most balanced ratios between spot and derivatives trading, signaling strong platform stability.
Beyond raw data, Binance also topped the charts in open interest market share, although this was a more closely contested metric. Moreover, in TokenInsight’s roundup of notable industry developments for Q1 2025, Binance appeared more frequently than any other exchange. It even earned a spot in Forbes’ list of the most trusted crypto platforms globally.
In summary, while Binance continues to face global regulatory pressures and internal community concerns, its grip on the CEX market remains firm. Even with a few missteps, it’s still the one to beat.
