In July 2025, Binance solidified its position as the leading centralized cryptocurrency exchange (CEX) in the spot market, commanding a 39.8% market share, according to a recent CoinGecko report. The exchange continues to outpace competitors, with MEXC securing the second spot at 8.6% and Gate taking third place with a 7.8% share.
The remaining top-10 CEXs collectively hold 43.8% of the market, with market shares relatively evenly distributed among those ranked fourth to tenth, ranging between 5% and 7% each. Notably, Coinbase has seen a gradual decline in its market share throughout 2025. Starting the year at 7%, its share dropped to 5.8% by July, placing it ninth with a trading volume of just over $101.7 billion for the month, CoinGecko analysts noted.
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A broader trend in the second quarter of 2025 highlights a decline in trading activity on centralized exchanges. Traders are increasingly turning to decentralized exchanges (DEXs), which have gained market share amid the waning performance of CEXs. This shift reflects growing interest in decentralized platforms as market dynamics evolve.
Author: Slava Vasipenok
Founder and CEO of QUASA (quasa.io) - Daily insights on Web3, AI, Crypto, and Freelance. Stay updated on finance, technology trends, and creator tools - with sources and real value.
Innovative entrepreneur with over 20 years of experience in IT, fintech, and blockchain. Specializes in decentralized solutions for freelancing, helping to overcome the barriers of traditional finance, especially in developing regions.
This is not financial or investment advice. Always do your own research (DYOR).
