Binance continued its governing role as the top centralized Crypto Exchange (CEX) in July, gaining a market share of 39.8%. According to the latest data from Coingecko, the platform processed $698.3 billion in spot trading volume for the month. A massive jump of 61.4% has been made since June as Bitcoin rally promoted activity across the market.
Top 10 Centralized Crypto Exchanges by Market Share
1. @Binance – 39.8%
2. @mexc_official – 8.6%
3. @Gate – 7.8%
4. @bitgetglobal – 7.6%
5. @bybit_official – 7.2%
6. @official_upbit – 6.3%
7. @okx -6.0%
8. @HTX_GLOBAL – 5.8%
9. @coinbase – 5.8%
10. @cryptocom – 5.1%-Coingecko (@cingecko) August 14, 2025
How did things change: Binance's advantage is a long-term story. Let's take a look back at our April market share report.
Following the leader, MEXC ranked second with an 8.6% market share ($150.4bb), while Gate.io ranked third, earning 7.8% (137.2b) of the market. The rest of the top 10, including Bitet, Bybit and OKX, each holds a market of 5% to 7%.
In fact, seven of the top 10 exchanges saw a quarterly decline with Crypto.com seeing the sharpest drop of 61.4%. The big winner of the quarter was MEXC, which surged from 8th in the first quarter to 2nd in the second quarter.
Coinbase continues to lose its ground
Meanwhile, Coinbase fell to 9th place in the July 2025 rankings, with a market share of just 5.8%. The monthly volume saw a healthy increase of 82.6% from June, but the exchange has steadily lost market share since January, when it held 7.0%.
In the second quarter of 2025, Binance won 38.0% of the total trading volume of $3.8 trillion on the top 10 exchanges, down from $1 trillion to $1.47 trillion. Seven of the top 10 exchanges experienced quarterly declines, with Crypto.com recording a sharp decline of 61.4%, down from $560.2 billion in the first quarter to $216.4 billion in the second quarter.
MEXC recorded a surge, moving from 8th in the first quarter to 2nd in the second quarter. The exchange reported $346.2 billion in the second quarter, up slightly from $334 billion in the first quarter.
The data shows that Binance is the indisputable king, but the fight for the remaining 60% of the market is more competitive than ever, with players like OKX and Bybit consistently gaining status over the masses of months.
But why are they at the top? Here are the top five crypto exchange reports for 2025 and why:
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