Overview
In the fast-paced world of cryptocurrency trading, one exchange stands out among the rest. Binance, a leading crypto exchange, has emerged as the dominant player in global BTC spot volume in the first half of 2025. According to a recent analysis by CryptoQuant, Binance commanded an impressive 37% market share, translating to over $3.44 trillion in traded volume.
This data underscores Binance’s position as the go-to destination for Bitcoin liquidity and major flow activity. With volume spikes and large trades often making their debut on Binance, it’s clear that the exchange is at the forefront of the crypto market.
While Binance leads the pack, other well-known platforms like Bybit, Crypto.com, Coinbase, and OKX collectively made up about 29% of total spot volume during the same period. These exchanges, while significant players in their own right, still trail behind Binance by a considerable margin.
Further down the list, exchanges such as Upbit, Bitget, and HuobiPro each held around 5% of the market share. While they are relevant in the global market, their influence pales in comparison to that of Binance, as noted by CryptoQuant.
On the flip side, exchanges like Kraken, KuCoin, and Gate.io, along with several other long-tail exchanges, contributed less than 3% of total BTC spot volume. While these exchanges serve niche or regional markets, they do not command the same level of influence as Binance in the broader crypto landscape.
In addition to its spot volume dominance, Binance also leads the pack in whale activity. According to CryptoQuant, Binance has recorded the highest cumulative whale transaction flows across centralized exchanges. With over 53.2 million whale transactions facilitated, Binance outshines its competitors by a wide margin.
This massive two-way flow of whale transactions on Binance highlights the exchange’s role not only as a custody hub but also as a trusted venue for large-scale trading, market-making, and arbitrage operations. Binance’s depth and infrastructure make it a reliable choice for whales looking to make significant moves in the crypto market.
In comparison, other platforms like HTX Global and Kraken fall behind Binance in terms of whale activity. While they do see substantial inflows, they do not match the scale of transactions seen on Binance.
In conclusion, Binance’s dominance in both spot volume and whale activity solidifies its position as a powerhouse in the crypto world. As the primary exchange for deep liquidity and major BTC flow activity, Binance continues to set the standard for excellence in the cryptocurrency market.
