Cryptocurrency spot buying and selling on main centralized exchanges (CEXs) recovered through the previous quarter, reversing the downward pattern that started in early 2025.
The full spot quantity for the highest 10 CEXs surged by 30.6% within the third quarter of the yr, netting $4.7 trillion, the crypto analytics platform TokenInsight reported in its newest alternate evaluation revealed Friday.
The surge marked a notable pattern reversal after CEX spot volumes suffered two steep declines within the first half of the yr, signaling renewed investor curiosity as Bitcoin (BTC) rallied to new highs above $123,000 in August.
Regardless of the spot market spike, derivatives buying and selling remained dominant on CEXs, with buying and selling volumes additionally rising round 29% to $26 trillion from $20.2 trillion in Q2.
Binance tops spot market share with 43%
Binance, the world’s largest CEX by buying and selling volumes, remained the chief within the spot market in Q3 2025, accounting for about 43% of the market.
The alternate has constantly captured greater than two-fifths of general CEX spot buying and selling volumes, effectively forward of opponents similar to MEXC and Bybit, which every held round 9%.
Quarterly buying and selling volumes in derivatives buying and selling versus spot buying and selling on CEXs in Q3 2025. Supply: TokenInsight
In derivatives markets, Binance additionally maintained its main place in Q3, with its market share rising considerably in September to 31.3%, in accordance with TokenInsight information.
In the meantime, rival exchanges OKX and Bybit noticed their market shares decline over the previous quarter however nonetheless held onto their second and third positions, respectively.
Month-to-month spot market share on main CEXs since April 2025. Supply: TokenInsight
Amongst different exchanges, solely Gate, KuCoin and BingX recorded notable development, underscoring resilience amid elevated market volatility, TokenInsight stated.
“Total, the derivatives market is getting into a part of structural transformation. The main exchanges proceed to take care of their dominant positions, though an rising variety of opponents are rising, intensifying market competitors,” the report famous.
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