Coingecko’s April 2025 report confirms that Binance holds the top position in centralized exchange (CEXS) with a market share of 38%. The report adds that Binance’s spot trading volume has fallen 18% since March, settling at $482.6 billion. This is the lowest monthly volume on the platform since October 2024, based on an updated CEX market analysis published on May 7th.
gate.io and bitget will rise in rankings
Binance saw its low volume, but Gate.io came in second in April, gaining a 9% market share, recording spot trading volume of $113.7 billion each month. This was an increase of 14.4% compared to March 2025.
Bitet continued closely, ranking third in its $92 billion spot trading activity, holding 7.2% of the market. Coingecko attributed these benefits to changing user preferences and sustained activities during the period of market volatility.
Meanwhile, OKX has secured 6% of its market share, a slight decline since March. Coinbase, Bybit and MexC are held between 5% and 6% respectively, reflecting slight changes since the previous month. According to Coingecko’s compiled data, the total market share for the top 10 central exchanges was 45.8%.
Overall spot trading volume will drop sharply in April
The decline in Binance volume reflected a broader trend in overall centralized exchange. Total trading volume for all CEX fell to $1.3 trillion in April 2025 from $1.4 trillion in March. This decline reflects a decline in market activity after the early surge. Binance’s 18% fell to $482.6 billion in April, coinciding with this widespread slowdown. This means that the monthly total volume will decrease by 7.1% across the market.
Coingecko’s chart shows it recorded a spot volume of $1.1 trillion in October 2024. Trade volumes rose sharply to $2.5 trillion in November, reaching $2.9 trillion in December 2024. It fell to $2.2 trillion in January, then $1.7 trillion in February, and further declined in March (1.4T) and April ($1.30).
Despite the cooling trend, Binance remained a market leader. In April, it handled more than $350 billion more than its nearest competitors, maintaining centralized exchange dominance.
Despite the pressure, the advantage of vinance remains
Coinmarketcap’s data shows that Binance continues to attract the largest share of its global spot volume. The exchange supports over 1,600 trading pairs and regularly records daily volumes of over $15 billion. However, that monthly domination has been slowly eroding since early 2024, dominated more than 44% of the CEX market.
Coingecko’s complete research notes that the decline in market share reflects competition from the new platform and increases in regulatory constraints in some jurisdictions. However, as its closest rival is still far behind, Binance remains a major CEX with a large margin.
As of May, the gap between Binance and the next biggest exchange was above 28% points. The April decline may indicate a temporary market weakness, but Binance’s structural dominance continues.
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