Crypto trade volumes decrease in early 2025, but Binance remains the leader

After a successful completion of 2024, the crypto market had to accept a strong correction in early 2025. The enthusiasm, which was heated by a favorable macroeconomic environment-including Donald Trump's election victory and the reserved signals from the US Federal Reserve-quickly gave way to uncertainty …

The concern about new political course in Washington and the possible deployment of the European Central Bank contributed to interest rate increases to worsen the mood in digital assets.

This shift was clearly reflected in trade behavior. According to current data from TOKENINGHT, the commercial volumes at centralized crypto bonds decreased significantly in the first quarter. The total volumes of the ten largest platforms fell by more than 12% compared to the previous quarter to $ 22,99 trillions. The spot trade was most affected, which decreased by over 13% from $ 5.3 trillions to $ 4.6 trillions.

Despite the weakening, Binance continues to dominate the market. Although the trading activities compared to the $ 9,95 trillions from $ 8,39 trillions before the quarter, Binance kept its leading position and held over a third of the entire CEX volume. With a market share of 36.5%, Binance remained unchallenged and consolidated its status as the central pillar of the crypto trade.

Not all stock exchanges cut off immediately. Contrary to the general downward trend, Mexc managed to significantly increase its range on the Spotmarkt, to significantly increase its share and to record the greatest growth among the major actors. Bitget, Coinbase and HTX also recorded slight improvements, but remain far behind Binance. Meanwhile, the strong slump from Ethereum – partly triggered by a massive security violation at Bybit in the amount of $ 1.5 billion – contributed to the careful mood. Bitcoin was more resistant, but also gave up between 10% and 15% compared to the latest highs and settled at around $ 85,000.

By the end of the quarter, the total market capitalization shrank from $ 3.5 trillions to around $ 2.7 trillions. Although most excavations recorded a decline in their volumes, competition dynamics remain fluid. Some platforms gain silence and quietly to the ground by using niche strengths or improved user loyalty, even if Binance is still undisputed at the top.