Largest Crypto Exchanges [2025 Data]

In 2025, the cryptocurrency exchange market continues to expand at an unprecedented pace, driven by massive trading volumes and rising global adoption. Binance remains the clear industry leader, handling over one-fifth of all trading activity worldwide, while competitors like Coinbase, OKX, and MEXC strive to capture their share of the growing market.

This article explores the data behind the world’s largest crypto exchanges, from daily trading volumes and market share to revenue growth and trust rankings, offering a detailed look at who truly leads the digital asset economy today.

Binance daily trading volume

The chart below illustrates Binance's daily trading volume over time, providing an up-to-date view of how active the exchange is daily. These Binance statistics highlight fluctuations in user activity, liquidity, and market volatility throughout 2025.

• Binance recorded its highest daily trading volume of $79.1 billion on January 20, 2025, marking a major spike in exchange activity.
• The lowest daily volume was observed on July 6, 2025, when trading dropped to just $5.0 billion.
• On average, Binance maintained a daily trading volume of around $22.7 billion between January and October 2025, showing consistent market engagement.

Overall, the data reveals that Binance remains the clear market leader in cryptocurrency trading, with massive and sustained trading activity throughout the year. The wide range between the lowest and highest trading volumes demonstrates Binance’s sensitivity to market movements, with user participation rising sharply during periods of volatility in the cryptocurrency market. These Binance daily trading volume statistics confirm that the platform’s scale and liquidity continue to define how big Binance truly is compared to other exchanges.

After analyzing Binance’s daily trading activity, it’s essential to understand how this performance translates into the platform’s overall position within the global crypto exchange landscape.

Binance market share by volume traded

The chart below compares Binance's market share by trading volume against other major crypto exchanges. It offers a clear snapshot of how Binance's revenue potential outpaces most competitors in the industry. This data helps quantify Binance’s dominance in global trading, reflecting both scale and sustained user trust.

• Binance leads the market with a 20.9% share of all trading volume: more than four times that of its closest competitor, MEXC Global (5.2%).
• The combined share of the next four exchanges (Bitrue, Gate.io, CoinW, and XT.com) totals just 16.8%, still below Binance’s individual share.

Binance revenue and market share among top crypto exchanges

In summary, Binance holds a commanding position in the cryptocurrency trading ecosystem, controlling over one-fifth of the total market volume. While smaller exchanges compete for user attention, Binance’s scale, trust, and liquidity ensure it remains the leading global player. These Binance market share figures reinforce that the platform’s significant user base and trading flow are key drivers of overall Binance revenue and continued dominance in the crypto sector.

Having seen Binance’s market dominance, the next step is to explore how this scale translates into financial performance over time.

Binance revenue by year

The chart below presents Binance's revenue by year, highlighting the company’s strong growth trajectory since its founding. These Binance revenue figures demonstrate how trading activity, user adoption, and product expansion have fueled consistent financial gains. Looking at this timeline helps put into perspective how big Binance has become within less than a decade.

• Binance revenue increased from $0.1 billion in 2017 to $20.0 billion in 2021, marking a rapid rise in just four years.
• After a decline to $12.0 billion in 2023, Binance rebounded strongly, reaching $17.5 billion in mid-2025.
• Between 2017 and 2025, Binance achieved a compound annual growth rate of over 120%, underscoring the platform’s rapid expansion.

Tracking Binance revenue growth from 2017 to 2025

Overall, Binance revenue growth reflects the platform’s ability to adapt and scale in a volatile crypto environment. The revenue surge in 2021 coincided with the broader crypto boom, while the stabilization in 2023-2025 shows maturity and sustained profitability. These results emphasize how big Binance has become, cementing its status as the most influential and financially powerful exchange in the global cryptocurrency market.

After examining Binance’s individual performance, it’s time to zoom out and look at the bigger picture, the overall crypto trading volume across all exchanges worldwide.

Global crypto 24-hour trading volume

The chart below visualizes global crypto 24-hour trading volume, providing a detailed look at how actively digital assets are exchanged day by day. This crypto trading volume chart helps assess overall market liquidity and investor sentiment in early 2025.

• The highest 24-hour exchange volume was recorded on October 11, 2025, reaching an impressive $1.31 trillion, showing a significant increase in market activity.
• The lowest trading day occurred on March 23, 2025, when crypto trading volume fell to just $70.3 billion, reflecting minimal investor engagement.
• On average, daily crypto transaction volume fluctuated between $300 billion and $600 billion, showing steady liquidity despite short-term volatility.

Overall, the data shows that global crypto trading volume remains highly dynamic. The frequent spikes above $1 trillion underscore the strength and maturity of the crypto market, which continues to attract both institutional and retail traders. By using a crypto volume chart and exchange volume tracker, it becomes clear that the cryptocurrency ecosystem maintains deep liquidity and sustained global participation throughout 2025.

After exploring Binance’s market position and revenue growth, it’s important to look at how other leading crypto exchanges perform in terms of daily trading activity.

Comparing daily spot trading volume across top crypto exchanges

The chart below compares the daily spot trading volume across several major cryptocurrency exchanges, including Coinbase, OKX, Kraken, and others. These figures help illustrate how trading activity is distributed beyond Binance and highlight the competitive landscape among global platforms.

• Binance leads the market with a daily spot trading volume of $7.0 billion, far surpassing all competitors.
• Coinbase trading volume stands at $2.6 billion, securing the second position among major exchanges.
• Kraken and Upbit follow with $1.1 billion and $0.8 billion, respectively, while other platforms like MEXC and HTX remain below the $0.5 billion mark.

Coinbase, OKX, and other major exchanges by daily spot trading volume

The comparison shows that Binance remains the clear market leader in daily trading activity, while Coinbase maintains a strong second position with a notable share of global exchange volume. Platforms such as OKX, Gate.io, and MEXC continue to capture smaller yet significant segments of the market, catering to diverse regional audiences and trader profiles. Overall, the global exchange ecosystem demonstrates clear concentration, with the top three exchanges accounting for the vast majority of daily crypto volume.

Having compared individual exchange performance, the next step is to explore the overall crypto exchange ranking and identify which platforms dominate the market by both trust and trading volume.

Top 10 exchanges by trust score

The chart below highlights the top 10 crypto exchanges by volume and trust score, giving a clear overview of the largest and most reliable trading platforms in the market. This ranking includes globally recognized names such as Binance, Coinbase, OKX, and Kraken, as well as fast-growing competitors like MEXC and Gate.io.

• Binance ranks number 1 among the largest crypto exchanges, with a 24-hour trading volume of $21.4 billion.
• Gate.io and MEXC follow with $3.7 billion and $3.5 billion, making them two of the top crypto exchanges after Binance.

Ranking the biggest and most trusted crypto exchanges in 2025

This crypto exchange ranking demonstrates that the market remains heavily concentrated, with Binance clearly standing as the largest crypto exchange worldwide. However, platforms like Gate.io, MEXC, OKX, and Coinbase continue to strengthen their positions, reflecting a growing diversity among the top 10 crypto exchanges. The presence of well-established brands and emerging competitors alike shows that global users now have multiple trusted options for trading digital assets.

After exploring the trust-based ranking of exchanges, it’s equally important to assess which platforms dominate the market by actual trading activity, measured through 24-hour volume traded.

Top 10 exchanges by 24h volume traded

The chart below ranks the top 10 crypto exchanges by volume, offering a data-driven look at which platforms lead global trading. These figures reflect the largest crypto exchanges based on daily transaction value, showcasing both established players like Binance and KuCoin, as well as rapidly growing platforms such as Hotcoin and Pionex.

• Binance remains the largest crypto exchange, posting a 24-hour trading volume of $21.4 billion, far ahead of all competitors.
• Hotcoin and Pionex follow with $7.9 billion and $6.4 billion, securing their places among the top 5 crypto exchanges in the world.
• Even lower-ranked platforms like Bybit and LBank maintain substantial volumes, exceeding $3.9 billion per day.

Ranking the biggest crypto exchanges by daily volume in 2025

What is the largest crypto exchange?

• Binance is the largest crypto exchange with $21.4 billion in trading volume in 24 hours.

This crypto exchange ranking highlights a highly competitive trading environment where Binance continues to dominate, but new contenders are quickly scaling up. The mix of both global giants and emerging exchanges indicates a broader diversification within the top 20 crypto exchanges, as trading activity spreads beyond traditional leaders. As volumes continue to rise, 2025 may witness a shift in the top 10 crypto exchanges by volume, driven by innovation, regional expansion, and liquidity improvements.

Conclusions

• By the end of 2025, global cryptocurrency trading will be more active and institutionalized than ever, with daily volumes surpassing $1 trillion during peak periods. This level of liquidity marks a decisive shift from speculative hype to sustained global participation.
• Binance continues to define the scale of the industry, processing over one-fifth of all crypto transactions worldwide and generating nearly $17.5 billion in annual revenue. Its dominance reflects both network trust and the high operational efficiency of its trading infrastructure.
• At the same time, the market is becoming more diversified, with competitors like Coinbase, OKX, MEXC, and Gate.io strengthening their regional presence and narrowing the gap in specific niches. This signals a maturing competitive landscape where multiple exchanges can coexist and thrive.
• The stabilization of trading volumes and revenues since 2023 suggests that the crypto exchange sector is entering a phase of measured growth and operational maturity, rather than the boom-and-bust cycles of earlier years.
• Looking ahead, the evolution of trading platforms will depend on regulatory adaptation, transparency, and user security, as exchanges transition from being speculative gateways to the core infrastructure of global digital finance.
• If these conditions align, the crypto market will continue to evolve from experimental beginnings into a central pillar of global finance, reshaping how value is created, stored, and transferred worldwide.

Sources

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4. Elad, Barry. "Crypto Exchange Market Share Statistics 2025: Top Rankings • CoinLaw." CoinLaw, 16 Oct. 2025, https://coinlaw.io/crypto-exchange-market-share-statistics/. Accessed 22 October 2025.
5. Tuwiner, Jordan. 47+ Binance Users & Revenue Statistics (2024). https://buybitcoinworldwide.com/binance-statistics/. Accessed 22 October 2025.